Understanding the new reporting requirement for 30 June 2024

As the financial landscape continues to evolve, public companies are facing a significant change in their reporting obligations. Effective from 30 June 2024, a new requirement introduced by the Australian Government mandates the disclosure of tax residency for each entity within a company’s group. Regency Partners brings you an exclusive insight into this crucial reporting update, highlighting its implications for public companies and the importance of compliance.


Enhanced transparency: Disclosing tax residency

Under the recent legislative changes introduced by the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Act 2024, Australian public companies are now obligated to disclose the tax residency of each entity within their consolidated group. This disclosure requirement aims to enhance transparency and provide stakeholders with a clearer understanding of the jurisdictions to which the group is subject for tax purposes.


Directors’ declaration

One of the most critical aspects of this new reporting requirement is the inclusion of the consolidated entity disclosure statement in the directors’ declaration. Directors will be required to provide their opinion on the accuracy and authenticity of the statement. Furthermore, this disclosure statement will be subject to audit, ensuring its reliability and credibility.


Key information to be disclosed

Public companies will need to provide specific details for each entity within their consolidated group. This includes the entity’s name, type (body corporate, partnership, or trust), incorporation or formation location (if applicable), and the percentage of issued share capital held directly or indirectly by the public company. Additionally, the tax residency of each entity, along with the jurisdictions in which they are residents for tax purposes, must be disclosed.


Regency Partners’ unique perspective

Our team of experts at Regency Partners has conducted an in-depth analysis of the implications of this new reporting requirement. We understand the importance of accurate and comprehensive reporting, and our insights will guide you through the process to ensure compliance and transparency.

At Regency Partners, our unique perspective on this reporting requirement allows us to provide specialised guidance to our clients. We go beyond generic information, offering tailored advice and strategies to optimise compliance and minimise risks associated with tax residency disclosure.



As the 30 June 2024 reporting deadline approaches, public companies must be prepared to fulfill the new disclosure requirement regarding tax residency. Regency Partners stands ready to guide you through the process, ensuring compliance, accuracy, and transparency. Our exclusive insights and expert analysis guarantee that our clients receive the most relevant and valuable information in a manner that is distinct to Regency Partners. If you have any queries or would like to know more, contact our expert team today.

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