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  • Expansion of reportable tax position schedule

    The reportable tax position schedule (RTPS) is being expanded to include all companies in economic groups with a turnover greater than $250 million for years ending on or after 30 June 2018. Impacted companies have been notified and will be required to lodge an RTPS.

    You will only have to lodge an RTPS if you have been notified.

    The schedule requires these companies to provide us with information on three types of positions:

    • Category A – uncertain tax positions in your income tax return
    • Category B – tax uncertainty in your financial statements
    • Category C – reportable arrangements identified in guidance material released by us.

    Category C is reviewed every six months to ensure it remains contemporary. We encourage you to check the guide as questions may change regularly.

    Correctly reporting these positions is beneficial where RTPS information is used to:

    • tailor our engagement where we focus and work with you on complex high risk arrangements
    • identify areas where we need to provide further clarification / certainty on the correct treatment of transactions and complex high risk tax arrangements
    • better understand tax risk for taxpayers, industries and the large market
    • improve dialogue with large businesses about their risk profile and corporate governance
    • allow you to make informed decisions about positions you have taken or are considering taking that are considered to be high risk arrangements.

    You will need to use Tax Time 2018 publications to complete your RTP schedule. These will be available on our website from 1 July 2018. Further information on RTP and the RTP schedule is available on our website.

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    Last modified: 06 Apr 2018QC 54996