Evidence-backed. Sourced from the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2023, ATO guidance, ABC News, Grant Thornton, BDO, PwC, the Board of Taxation and the FACT Coalition. General information only — not financial or tax advice. Last updated: June 2026.
⚡ Key Takeaways
- The Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2023 received Royal Assent on 8 April 2024. It introduces mandatory public country-by-country (CbC) reporting for large multinational groups with Australian presence — generally those with over AUD $1 billion in global revenue and more than AUD $10 million in Australian-sourced turnover. First public reports are due around 30 June 2026 for groups with a 30 June 2025 year-end. [1][2][4]
- Each public CbC report must disclose, for every jurisdiction the group operates in: revenue, profit before tax, income tax expense, income tax paid, and number of employees. ABC News (December 2024) summarised this as: “Every multinational operating in Australia now must publicly report on taxes paid, profits, the number of workers and other financial information in a broad set of countries, including many low-tax jurisdictions.” [8]
- The Board of Taxation’s Voluntary Tax Transparency Code (VTTC) has been redesigned and takes effect from 1 July 2026. The new version sets clearer minimum standards: accounting profit reconciled to tax expense, explanation of effective tax rate differences, disclosure of material tax risks and related-party dealings, and high-level information on where profits are booked. Large listed companies and Australian-headquartered groups are expected to adopt it. [9][2]
- The same reform package requires Australian public companies to include a Consolidated Entity Disclosure Statement (CEDS) in their annual financial reports — listing every significant subsidiary and where it is incorporated. The ATO has also embedded transparency into its Pre-lodgement Compliance Review (PCR) and GST Assurance Review frameworks. [1][3]
- The FACT Coalition called Australia’s public CbC regime a “groundbreaking new tax transparency requirement” and a global benchmark. Grant Thornton, BDO and PwC confirmed in late 2025 that Australia is “raising the bar on corporate tax transparency” compared with many peer countries — and that exemptions from public CbC will only be granted in “exceptional cases.” [4][1][2][6]
Australia’s New Tax Transparency Laws in 2026 — What Big Business Must Now Reveal (And How to Use It)
By The Fine Print editorial team | Last updated: June 2026 | 13 min read | ⚠️ Not financial advice
For decades, the question of how much tax a large multinational paid in Australia was essentially unanswerable by the public. Companies published a single consolidated tax number in their annual reports — a figure that rolled together every jurisdiction they operated in and told you nothing about how Australian profits were taxed. That’s now changing. From 2026, large multinationals with Australian operations must publish detailed country-by-country breakdowns of where they earn profits, what they pay in tax, and how many people they employ — jurisdiction by jurisdiction. Alongside this, Australia’s Voluntary Tax Transparency Code has been redesigned with clearer minimum standards for large companies, and Australian public companies must disclose their full subsidiary structure in annual reports. This guide explains what’s actually required, who it applies to, how it affects everyday Australians, and — critically — how to use the new disclosures rather than let them gather dust.📋 What’s in This Guide
What the New Laws Actually Require
The legislation that created Australia’s public country-by-country (CbC) reporting regime is the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2023. Despite being called the 2023 Act, it completed its passage through Parliament and received Royal Assent on 8 April 2024. The new reporting obligations flow from the Act and apply to reporting periods starting on or after 1 July 2024. For groups with a 30 June financial year-end, the first public reports cover the 2024–25 financial year and are due around 30 June 2026. [1][2][4]What must be disclosed — per jurisdiction, publicly:
- Revenue (total and from related parties)
- Profit or loss before income tax
- Income tax expense (accrued)
- Income tax paid (cash)
- Number of employees
- Accumulated earnings and stated capital
- Tangible assets other than cash
Critically, this information is published in a public register — not filed only with the ATO. Journalists, unions, NGOs, academics and ordinary Australians will be able to read it. [1][8][4]
Who Is in Scope — and Who Isn’t
The public CbC regime targets large multinational enterprise (MNE) groups with an Australian presence. The primary threshold is global revenue above AUD $1 billion, with additional focus on groups with more than AUD $10 million in Australian-sourced turnover. In practice this captures the large tech platforms, banks, mining groups, retailers and professional services firms that dominate public debate about multinational tax. [1][2][5]⚠️ Who is largely exempt: Private Australian-owned companies — even very large ones — are largely excluded from the public tax-transparency list. Earlier rounds of the transparency reform process raised concerns that publishing detailed financial data on private Australian companies could expose sensitive commercial information and effectively reveal owners’ personal wealth. The political and policy response was to keep the public CbC focus on multinationals and listed public companies, not privately-held local groups. For ordinary Australians, this means you’ll have much more visibility on global brands (tech giants, foreign banks, large retailers) than on some very large private Australian businesses. [1][2]
The Redesigned Voluntary Tax Transparency Code (VTTC)
Running alongside the mandatory public CbC regime is the redesigned Voluntary Tax Transparency Code. The Board of Taxation updated the VTTC to align with global best practice and to complement the new mandatory disclosures. The redesigned code takes effect from 1 July 2026. It remains technically voluntary — but the Board and Treasury “encourage businesses to adopt” it, and investors and institutional shareholders are increasingly treating VTTC adoption as a corporate governance signal. [9][2]The key upgrade in the redesigned VTTC is the introduction of clearer “minimum standards” — the previous version was vaguer about what constituted adequate disclosure. Under the new standards, a participating company must publish: a reconciliation between accounting profit and tax expense (so readers can see why the effective tax rate differs from the statutory rate of 30%); an explanation of effective tax rate differences; disclosure of material tax risks and related-party dealings; and high-level information on entity structure and where profits are booked globally. Large listed companies and Australian-headquartered groups are expected to meet these standards for reporting periods commencing on or after 1 July 2026. [9][2]How the Laws Affect Everyday Australians
1. Big business tax behaviour is more visible — at least on paper
Public CbC reports and VTTC disclosures will make it easier for journalists, unions, NGOs and informed citizens to see where large companies earn profits and pay tax. When a bank, supermarket or tech giant claims to “pay its fair share,” there will be actual numbers to check rather than corporate PR talking points. The FACT Coalition called Australia’s regime a “groundbreaking new tax transparency requirement” — and by global standards, it is. The ABC’s December 2024 coverage framed it as a tool to “deter multinational tax avoidance”, emphasising that the public now has access to detailed jurisdictional data on profits, tax paid and workforce size. [4][8]2. Compliance costs may be passed through to consumers and workers
Producing public CbC reports and VTTC-compliant narratives requires significant investment in data systems, internal controls and external advisory fees. Some companies will absorb these costs. Others will attempt to recover them through higher prices, lower wage growth or reduced investment — meaning part of the transparency bill can end up being paid by the customers and employees of the companies being scrutinised. This is not a reason to oppose transparency, but it is worth understanding that regulatory compliance costs rarely fall only on shareholders. [1][7][6]3. Reputational exposure may change corporate behaviour — but not always in consumers’ favour
Companies with aggressive tax planning may face genuine public backlash once their effective tax rates and profit-booking structures are visible. That reputational pressure can push boards toward simpler, more conservative tax strategies — which in theory should broaden the corporate tax base over time and reduce pressure on individual taxpayers. But it can also trigger quiet restructuring: some groups may shift operations, relocate holding structures, or avoid certain Australian investments to reduce the volume of reportable activity. The transparency regime aims to capture this dynamic, but it cannot guarantee that sunlight always produces the behavioural change advocates hope for. [11][7]✅ Three Actions: Businesses, Companies and Citizens
Action 1: If you’re in a large or multinational group — map your obligations and deadlines now
The first step is determining whether your group meets the public CbC thresholds: global revenue above AUD $1 billion, plus Australian-sourced turnover and the other corporate structure criteria. This analysis needs to consider whether existing private-ruling positions or thin-capitalisation arrangements affect how the threshold is calculated. Once scope is confirmed, build a public-reporting project plan — identifying data sources for each jurisdiction, designing controls, planning narrative review and Board sign-off — and aim to be ready for the first report due around 30 June 2026. Professional advisory firms have repeatedly warned that “exceptional cases” exemptions will require robust evidence, not just a preference to avoid disclosure. Groups that wait until the deadline is imminent will face significant resource pressure. [1][2][6]Action 2: For listed and large Australian-headquartered companies — adopt the redesigned VTTC early
The redesigned VTTC takes effect from 1 July 2026, but voluntary early adoption from the 2025–26 year has a strategic advantage: it lets you control the narrative on your tax affairs before the mandatory public CbC numbers arrive. If your effective tax rate is legitimately lower than 30% for structural reasons (R&D offsets, capital allowances, foreign income exemptions), explaining that proactively in a VTTC-compliant disclosure is far better than letting raw data be interpreted without context by journalists or activist shareholders. Review the Board of Taxation’s new minimum standards at taxboard.gov.au and compare them against your current income-tax note and governance disclosures. The gaps are usually smaller than they appear. [9][2][12]Action 3: As an informed citizen or investor — actually use the transparency tools when they arrive
When public CbC reports and VTTC disclosures start appearing from mid-2026, don’t let them gather dust. Look at the effective tax rates — the ratio of income tax expense to profit before tax — for large brands you bank with, shop at, stream from, or invest in. If a bank reports AUD $5 billion in Australian profit but a 12% effective tax rate, that’s worth a question at the AGM or a note to your superannuation fund’s engagement team. Factor tax behaviour into where you invest and shop, recognising that transparency only produces change when consumers and investors pay attention to what the numbers reveal. NGOs and academics have warned that dense, technical CbC reports may not be easily readable by ordinary citizens — which means a plain-English guide to reading them (like this one) has real value as these disclosures become publicly available. [8][12][13]❓ Frequently Asked Questions
What is public country-by-country reporting?
A mandatory requirement for large multinationals (generally over AUD $1 billion global revenue) with Australian operations to publish profit, tax paid and employee data per jurisdiction — in a public register, not just filed with the ATO. First reports due mid-2026. [1][2][4]When are first reports due?
For groups with a 30 June year-end: the first public CbC reports cover 2024–25 and are due around 30 June 2026. Exemptions require “exceptional cases” evidence — not a standard opt-out. [1][2][6]What is the redesigned VTTC?
A voluntary framework from 1 July 2026 setting minimum standards for tax disclosure by large companies — reconciling accounting profit to tax expense, explaining effective tax rate differences, disclosing tax risks and profit-booking locations. [9][2]Do private Australian companies have to report?
No — private Australian-owned companies are largely exempt. The public CbC regime focuses on multinationals and listed public companies. [1][2]How does this affect me personally?
Your personal tax doesn’t change. But from mid-2026, you can see how much tax the banks, retailers, tech platforms and telcos you deal with actually pay — and use that to ask better questions or make more informed decisions about where you invest and shop. [8][12]⚖️ The Fine Print Verdict
Australia’s 2026 tax transparency regime is a genuine step forward by global standards. For the first time, Australians will be able to read detailed, jurisdiction-level data on how much tax the largest companies operating here actually pay — compared to what they earned. That’s meaningful. But transparency is only as useful as the attention it receives. Dense, technical reports filed in a public register and then ignored by everyone except specialist advisers accomplish very little. The regime’s real value depends on journalists, NGOs, investors and ordinary citizens actually using the disclosures — reading effective tax rates, comparing profit-booking patterns, and asking informed questions when the numbers don’t add up. The legal framework is now in place. The question is whether Australians will engage with it.
👉 From mid-2026, search for the public CbC report of a major company you deal with. Look at their effective tax rate and where their profits are booked. Then decide whether you’re comfortable with what you see.
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Plain-English breakdowns of Australian money news every week — no jargon, no spam.📚 Sources & References
- Grant Thornton, “From compliance to transparency: key developments in Australia’s country-by-country reporting regime,” grantthornton.com.au/insights/from-compliance-to-transparency-key-developments-in-australias-country-by-country-reporting-regime/
- BDO, “Raising the bar: how public country-by-country reporting and the redesigned voluntary tax transparency code will change the game,” bdo.com.au/en-au/insights/tax/transfer-pricing-alert/raising-the-bar-how-public-country-by-country-reporting-and-the-redesigned-voluntary-tax-transparen
- Macquarie Group, “FY26 Tax Transparency Report,” macquarie.com/assets/macq/investor/results-and-presentations/2026/macquarie-group-fy26-tax-transparency.pdf
- FACT Coalition, “Australia public CbCR,” thefactcoalition.org/australia-public-cbcr/
- Acclime Australia, “Tax transparency and multinational corporations,” australia.acclime.com/guides/tax-transparency-multinational-corporations/
- PwC Australia, “Tax briefings — December 2025,” pwc.com.au/tax/tax-briefings/december-2025.html
- Tax Natives, “Australia’s new tax disclosure laws: a global benchmark for transparency,” taxnatives.com/blog/australias-new-tax-disclosure-laws-a-global-benchmark-for-transparency/
- ABC News, “Public country-by-country reporting: multinational tax avoidance,” abc.net.au/news/2024-12-31/public-country-by-country-reporting-multinational-tax-avoidance/104761364 (December 2024)
- Board of Taxation, “Voluntary Tax Transparency Code,” taxboard.gov.au/current-activities/voluntary-tax-transparency-code
- IBA, “Tax country report — Australia 2025,” ibanet.org/document?id=tax-country-report-australia-2025
- Accounting Times, “Why transparency won’t fix Australia’s tax system,” accountingtimes.com.au/tax/why-transparency-won-t-fix-australia-s-tax-system
- BCCPA, “Should your company care about the tax transparency movement?” bccpa.ca/kbase/kbase-search/taxation/taxation/articles/should-your-company-care-about-the-tax-transparency-movement/
- UNSW, “The association — eJournal of Tax Research, Vol 19 No 2 (2022),” unsw.edu.au/content/dam/pdfs/business/acct-audit-tax/research-reports/ejournal-of-tax-research/2022-volume-19-number-2/2022-02-the-association.pdf
This article is general information only and does not constitute financial or tax advice. Information is based on the Treasury Laws Amendment (Making Multinationals Pay Their Fair Share—Integrity and Transparency) Act 2023, ATO guidance, and commentary from Grant Thornton, BDO, PwC, the Board of Taxation, ABC News and the FACT Coalition, current as at June 2026. The Fine Print 🇦🇺 is not affiliated with the ATO or any firm mentioned.