Global Daily Tax News, Australia Reminds Of CbC Reporting Deferral, (Nov 15, 2024)

On November 14, 2024, the Australian Taxation Office issued a statement highlighting the automatic lodgment deferral available for country-by-country (CbC) reporting entities with a reporting obligation for a period ending on December 31, 2023.

An automatic lodgment deferral applies until January 31, 2025, the statement highlights.

The ATO said: "This deferral applies to local files, master files and CBC reports due to be lodged by December 31, 2024, including those that have a replacement reporting period ending on December 31, 2023."

"As the lodgment deferral automatically applies, a separate request is not required."

"To avoid any penalties, please ensure these CBC reporting statements are lodged by January 31, 2025."