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Thursday, 3 December 2015
Page: 9875

Senator CORMANN (Western AustraliaMinister for Finance and Deputy Leader of the Government in the Senate) (17:15): Entities will be permitted to lodge either tier 1 or tier 2 accounts depending the activities of the company and consistent with existing AASB reporting requirements. It is not a discretion of the regulator and is in line with international accounting definitions that both tier 1 and tier 2 include significant taxation related party payment information.