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  • Corporate tax transparency work commencing soon

    Under the Tax Administration Act 1953, the ATO is required to publish certain tax information on corporate tax entities each year. Entities will be included in the report if they are:

    • an Australian public or foreign owned entity with a total income of $100 million or more
    • an Australian resident private company with a total income of $200 million or more
    • an entity reporting petroleum resource rent tax (PRRT) payable.

    The published details will be taken directly from tax returns lodged for the 2017–18 income year and, in accordance with the law, won’t include any Commissioner-initiated amendments. The final data will be extracted in early September 2019.

    The next Report of entity tax information will be published in late 2019. All identified entities will receive a letter in mid-September 2019 advising of the details to be published.

    Under the legislation, we are also required to publish details of 2015–16 and 2016–17 tax returns lodged or processed after 1 September 2018, where the information has not been published previously.

    Next step:

    See also:

    Last modified: 22 Aug 2019QC 59966