• Recommendation 3.2

    1. The ATO should consult with taxpayers, tax practitioners and/or their representative bodies every five years on information it seeks in company returns (as well as associated pre-assessment and expanded lodgement disclosure, such as annual compliance arrangements, pre-lodgement compliance reviews, the international dealing schedule and the reportable tax position schedules). This is in addition to its current practice of consulting on new information as the need for them arises pursuant to a change in the law.
    2. The ATO consultation with tax taxpayers, tax practitioners and/or their representative bodies on individual tax returns should include discussion on the information being sought through expanded lodgement disclosures as well as the tax return itself.

    ATO response

    We agreed with this recommendation and it is currently in progress.

      Last modified: 22 Dec 2014QC 43559