On 10 August 2017, The Australian Taxation Office published Local file instructions: Part A and Part B. The Local file requirement forms part of Australia's Country-by-Country (CbC) reporting, which also includes the CbC report and the Master file. The Local file collects information and relevant documentation for international related party dealings and must be submitted electronically via one of the following mechanisms:
- Business Portal / Tax Agent Portal using file transfer
- Standard Business Reporting (SBR) using SBR-enabled software
The Local file is due within 12 months following the taxpayer's year-end, although Part A may be submitted with the tax return in lieu of labels 2 to 17 of the international dealings schedule (IDS). This administrative solution is provided in order to avoid duplication of information in the Local file and IDS.