Australian Local File Solution

A complete solution to streamline and automate the preparation, review and electronic filing of your Australian Local File.

In June 2016, the Australian Taxation Office (ATO) finalised the Local File requirements for Country by Country (CbC) Reporting in Australia. Under these requirements, eligible Significant Global Entities (SGEs) are now required to prepare and report transfer pricing and business information in a standardised format that will need to be electronically filed to the ATO via Standard Business Reporting (SBR) methods.

Due to the data formatting, packaging and transmission complexities associated with Australian Local File requirements, an automated software solution is necessary.

CCH Integrator’s Australian Local File solution helps manage, streamline and automate the preparation, review and electronic lodgment of the Australian Local File, freeing experienced tax professionals to focus on strategic operations.

CCH INTEGRATOR KEY CAPABILITIES

Preparation

The integration of robotics automates the routine gathering and transformation of intercompany transactions data.

“Bob the robot” will transform, cleanse, filter, enhance, summarise and validate transactions into the ATO’s prescribed Local File output

Review

Easily review Bob’s summarised transactions and collect/store related attributes for each intercompany transaction in the Local File disclosure.

Validation

Validate the Local File disclosures in accordance with the ATO published rules and e-file with the ATO via SBR.

Lodgment

Integrated with CCH Integrator’s additional solutions, the platform provides a secure, multi-user access to facilitate collaboration, preparation and review across the corporation. Export an XML schema file to electronically file via the SBR lodgment portal.

 


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