The definition of a reporting entity changed on 7 September 2024 when the reforms to the Scheme commenced.
New reporting obligations apply to reporting periods beginning on or after 1 July 2024. Only those entities meeting the new definition of a reporting entity have to give a report under this new framework.
Read about ‘Entities that must report’ in the Guidance material.
Reporting entities
An entity will be a reporting entity under the scheme if it is a constitutionally covered entity (CCE), has a connection to Australia, the revenue threshold is met, and it is not excluded from reporting. It is an entity’s responsibility to determine if they have reporting obligations under the scheme.
Volunteering entities
Entities that do not meet the reporting entity definition can apply to the Regulator to report.
Existing volunteer reporting entities will be automatically rolled‑over to the new Scheme unless the Regulator has reasons to believe they are no longer entitled to volunteer to report.
Further information on volunteering is available in the Guidance material.
Modified reporting structures
Read about applying to become a reporting nominee or a subsidiary reporting entity.
Nominee reporting entities
An entity can apply to become a nominee reporting entity to simplify the reporting process. This allows it to report on behalf of one or more reporting entities, as well as any other controlled entities.
Subsidiary reporting entities
A subsidiary reporting entity is an entity removed from its controlling reporting entity's group for reporting purposes. It operates independently and submits its own payment times reports.
Subsidiaries removed from a consolidated group must report for itself and all controlled entities under its corporate structure.
For information on reporting structures, see ‘Volunteering and modifying reporting structures’ in the Guidance material.