Australia Issues Notice on Reportable Tax Position Schedule for the 2018 Income Year

On 16 October 2018, the Australia Taxation Office issued a notice on the reportable tax position (RTP) schedule for the 2018 income year. The RTP schedule requires the reporting of:

• Uncertain tax positions in the income tax return (Category A), including positions that are about as likely to be correct as incorrect, or less likely to be correct than incorrect;
• Tax uncertainty in financial statements (Category B), including positions in respect of which uncertainty about taxes payable or reco…