Common Reporting Standards (CRS)

Under CRS, from 1 July 2017, Paragon will collect and report to the Australian Taxation Office (ATO) certain information on non-residents, similar to the information collected and reported under the FATCA regime with respect to U.S. citizens or taxpayers. The ATO will exchange this information with the participating foreign tax authorities of those non-residents. The ATO will at the same time receive financial account information on Australian residents from other countries’ tax authorities. The overall purpose of the CRS is to deter tax evasion.

Any non-resident investor, new or existing, approves the collection and reporting of such information as required under CRS. Further, by submitting an application form in the Fund from 1 July 2017, an investor authorises Paragon to obtain and report such information for CRS purposes, and acknowledges that Paragon may elect to reject an application if such information is not provided.

Any such information collected by Paragon will be handled in accordance with Paragon’s Privacy policy.