Taxation Administration Excluded Classes of Transactions and Entities for Third Party Reports on Shares and Units Determination 2022 (Cth)

Legislative Instrument

Taxation Administration Excluded Classes of Transactions and Entities for Third Party Reports on Shares and Units Determination 2022

I Ben Kelly, Deputy Commissioner of Taxation, make this determination under subsection 396‑70(4) Schedule 1 to the Taxation Administration Act 1953 (TAA).

Ben Kelly Deputy Commissioner of Taxation Policy, Analysis and Legislation Law Design and Practice

9 August 2022

1 Name of instrument This instrument is the Taxation Administration Excluded Classes of Transactions and Entities for Third Party Reports on Shares and Units Determination 2022.

2 Commencement This instrument commences on 1 July 2017.

3 Classes of entities to which this instrument applies This instrument applies to:

(1) companies whose shares are listed for quotation in the official list of an Australian financial market;

(2) trustees of a unit trust; and

(3) trustees of a trust (other than a unit trust) who hold shares in a company or units in a unit trust to which one or more beneficiaries of the trust are absolutely entitled, in relation to transactions in an income year for which the trustee does not give the Commissioner of Taxation an income tax return.

4 Reporting exemptions The classes of entities to which this instrument applies are not required to report about the following classes of transactions under section 396-55 of Schedule 1 to the TAA:

(1) An entity to which this instrument applies is not required to provide information under table items 6 or 8 in relation to a transaction where:

(a) the transaction relates to a share in a company that is listed for quotation in the official list of an Australian financial market; and

(b) data in relation to transactions on that Australian financial market is not required to be delivered to the Australian Securities and Investments Commission under the market integrity rules.