8. Australia

Monetary threshold for LF preparation

​ Applicable if the entity is a member of a multinational enterprise (MNE) group with consolidated revenue of AUD 1 billion or more.

Preparation deadline

• Within 15 days after the end of the 7th month following the end of the fiscal year.

Submission deadline

• Within 12 months after the end of the fiscal year.

Language

• English

Penalty

• Failure to submit the LF may result in significant penalties, up to AUD 825,000.

  • Reference: Subdivision 815-E of the ITAA 1997