Voluntary Tax Transparency Code
The Tax Transparency Code (TTC) is a set of principles and minimum standards developed by the Board of Taxation to guide medium and large businesses on public disclosure of tax information.
Adoption of the TTC is voluntary and intended to complement Australia’s existing tax transparency measures. The TTC is designed to encourage greater transparency by the corporate sector, and to enhance the community’s understanding of the corporate sector's compliance with Australia’s tax laws.
Published TTC reports can be accessed at data.gov.auExternal Link The list of TTC reports is updated monthly.
On this page
See also
Role of the ATO
We facilitate the TTC by hosting a centralised database of links to published TTC reports provided to us by participating businesses. The links to published reports and details on signatories are available at data.gov.auExternal Link
We don't review or provide any assurance on the accuracy of the information contained in these reports.
Voluntary TTC disclosures by businesses don't change our legislative duty to produce the annual Report of entity tax information.
For businesses wishing to provide us with their published TTC report, refer to the instructions below.
Who should disclose?
Medium or large corporations, including super funds, trusts and partnerships are encouraged to adopt the TTC. Corporations need to register with the Board of Taxation to become a signatory to the TTC.
To become a signatory to the Register, email taxboard@treasury.gov.au.
For the purpose of the TTC:
- medium businesses are businesses with aggregated TTC Australian turnover of at least $100 million but less than $500 million
- large businesses are businesses with aggregated TTC Australian turnover of $500 million or more.
Note: 'TTC Australian turnover' is defined in section 5.1 of A Tax Transparency Code (PDF, 996KB)This link will download a file – the Board of Taxation's final report to the Treasurer (February 2016).
Information to disclose
The minimum standard of information required under the TTC depends on the size of the business. Information disclosed under the TTC is divided between Part A and Part B content. It is recommended that:
- medium businesses adopt Part A
- large businesses adopt both Part A and Part B.
Table 1: Minimum standard of information to disclose – Part A and B requirements
TTC disclosure
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Who
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Minimum standard of information
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Part A
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Large and medium businesses
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- A reconciliation of accounting profit to tax expense and to income tax paid or income tax payable
- Identification of material temporary and non-temporary differences
- Accounting effective company tax rates for Australian and global operations (pursuant to AASB guidance)
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Part B
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Large businesses
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- Approach to tax strategy and governance
- Tax contribution summary for corporate taxes paid
- Information about international related-party dealings
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Corporations will generally publish their TTC report on their website. There is no prescribed template or format for TTC content.
See also
When to disclose
There is no prescribed timing for the release of annual TTC reports. Signatories are encouraged to notify us after publishing the TTC report on their website.
How to notify or contact us
The following table can be used as a template when providing your notification.
Table 2: Template to assist with your notification
Details for notification
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Signatory information
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Name of the signatory
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ABN of the signatory
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Report period – financial year ending DD-MM-YYYY
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Size of the business – is it a 'large' or 'medium' business? (refer to the definitions above)
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Origin of the ultimate parent company – Australia, foreign, Australia and foreign dual-listed, or foreign dual-listed
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Do the TTC contents satisfy the minimum standard under Part A, Part B, or Part A and Part B?
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Provide a current URL link to the published report.
Note: It is the responsibility of the signatory to inform us of any changes to links.
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Send your notification or any queries to TTC@ato.gov.au
The Tax Transparency Code is a set of principles and minimum standards to guide medium and large businesses on public disclosure of tax information.