Australia updates its CRS reporting process

On 16 April 2019, the Australian Taxation Office (“ATO”) issued an update to the Common Reporting Standard (“CRS”) reporting process (Link).

If a user is unable to submit the CRS report by 31 July, it is now possible to request an extension of time through the ATO Business and Tax Agent Portals (Link). The message should include:

  • the ABN, TFN or GIIN of the RFI
  • the name of the RFI
  • your name and daytime telephone number
  • the reasons for the request to extend time to lodge
  • the date by which you will be able to submit the CRS report

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