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  • 25. Reportable tax position

    Attention

    Warning:

    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

    End of attention

    B – Are you required to lodge a reportable tax position schedule?

    Only complete this item if you are required to lodge a Reportable tax position schedule in 2019.

    Companies must lodge a reportable tax position (RTP) schedule if they are a public company (defined in section 103A of ITAA 1936) or a foreign owned company, and either:

    • their total business income at S item 6 exceeds $250 million in the current year or
    • their total business income at S item 6 exceeds $25 million in the current year, and they are a part of an economic group whose total business income is $250 million or more in the current year or the immediate prior year.

    Economic group for RTP purposes includes all entities that lodge an Australian tax return under a direct or indirect Australian or foreign ultimate holding company or other majority controlling interest. This includes all entities under a single ultimate holding company or under the ownership of a single individual, trust or partnership.

    The total business income of an economic group is the sum of all income labels in the Australian tax returns of every group member. The income labels are added up in the company tax return (at S item 6), but need to be added up manually for trust and partnership tax returns.

    Companies are not required to lodge an RTP schedule where they have entered into an Annual Compliance Arrangement (ACA) with us for 2018–19 and, as part of the ACA, agreed to provide full and true disclosure and ongoing dialogue of all material tax matters, including any positions that fall within any RTP category in accordance with Reportable tax position schedule instructions 2019. To complete this item:

    If you are required to lodge a reportable tax position schedule in 2019, print X in the Yes box at B item 25.

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    Last modified: 18 May 2020QC 58629