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Australian Taxation Office Issues Notice on Taxpayers' Self-Assessment of Obligation to Lodge Reportable Tax Position

The Australian Taxation Office (ATO) has issued a notice on the need for taxpayers to self-assess their obligation to lodge a Reportable tax position (RTP) schedule.

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Self-assess your requirement to lodge an RTP schedule (public or foreign owned companies)

From 30 June 2019, taxpayers are no longer notified of their obligation to lodge a Reportable tax position (RTP) schedule. Instead, you are required to self-assess your company's requirement to lodge based on certain criteria.

Your company will need to lodge an RTP schedule with the 2019 tax return if it is:

  • an early balancing taxpayer who had been notified of the requirement to lodge their RTP schedule
  • a June or late balancer and
    • is lodging a company tax return for the year ending 30 June 2019 or later
    • is a public or a foreign-owned company
    • has total business income of either
      • $250 million or more in the current year
      • $25 million or more in the current year and is part of a public or foreign owned economic group with total business income of $250 million or more in the current year or the immediate prior year.

Your company will need to lodge the schedule if it meets the criteria even if it has no disclosures.

In exceptional circumstances a taxpayer who does not meet the self-assessment criteria will be asked to lodge the RTP schedule. If your company does not meet the criteria but is required to lodge, we will phone you prior to issuing a notification letter.

We have published guidance and instructions to assist you complete the schedule. Email ReportableTaxPosition@ato.gov.au if you need information on the schedule requirements.

See also:

Reportable tax position schedule

2018 RTP webinar recording

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