FATCA applies to a broad range of Australian financial institutions, including: banks. some building societies. some credit unions.
Tax information exchange agreements TIEAs) allow the tax authorities of Australia and the participating country to exchange information to assist each other in administering and enforcing their tax laws on both civil and criminal matters.
Australia has long employed a tax treaty framework with the United States, underpinning important economic, taxation, and business aspects of the relationship with a major trading partner and key ally.