Large business alert 2/12

RTP guidance material updated

Our reportable tax position (RTP) schedule webpage has been updated to include the latest draft of RTP guidance material.

The final version of the RTP schedule and the instructions to the schedule will be available with Tax Time 2012 publications on our webpage.

After 1 July 2012, the RTP webpage will contain:

• examples
• Frequently Asked Questions.

Following extensive consultation, the updates to the guidance material include:

• a new definitions section
• classifying the different types of RTPs as categories of RTP
• simplified information and definitions for the three categories of RTP including updated guidance for category C RTPs
• further clarification of the different ways to disclose an RTP
• an explanation that even if an early disclosure form has been submitted an RTP schedule needs to be lodged.

For the most up to date information on the RTP schedule you can refer to our reportable tax positions webpage.

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