Australia: Updated AEOI guidance

Australia: Updated AEOI guidance

The Australian Taxation Office (ATO) updated automatic exchange of information (AEOI) guidance to clarify the timing of account openings and update content on “exceptional circumstances.”


The updates in the section on “Due diligence: Self-certification for new individual accounts” (section 4.7) include:

  • Reporting financial institutions must not materially advance the account opening without obtaining a self-certification.
  • The addition of two examples on obtaining self-certifications and what can be considered a breach of self-certification requirements.
  • An update clarifying that exceptional circumstances do not extend to instances when it is difficult to obtain self-certifications. Additionally, reporting financial institutions must have robust procedures in place so that self-certifications can be obtained in all cases.

Read a September 2020 report [PDF 79 KB] prepared by the KPMG member firm in Australia

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