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  • Guide to reportable tax positions 2018

    The Reportable tax position (RTP) schedule is a schedule to the company income tax return. It requires large businesses to disclose their most contestable and material tax positions.

    You are required to complete the RTP schedule if we have notified you in writing (including email) that you have to complete it.

    We use schedule disclosures 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.

    We review your disclosures and work with you to provide an indication of how we will respond to each disclosure.

    RTP Category C is updated throughout the year. We recommend you use the electronic version of this document to ensure that you are reporting on the most up-to-date list of RTP Category C questions.

    What's new

    The RTP schedule has been extended to include companies in public or international 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 RTP schedule. If you are not sure whether or not you are required to lodge an RTP schedule, please email us at ReportableTaxPosition@ato.gov.au and provide your name and ABN.

    We have updated RTP Category C to cover additional specific issues that are of a concern to us.

    To improve the client experience, we have enabled RTP schedule lodgment through the business and tax agent portals. Lodging the RTP schedule through the portal means you no longer have to print out and sign your RTP schedule and that you are provided with a receipt when the RTP schedule is lodged.

    We have also prepared a webinar on the RTP schedule. The webinar provides a concise explanation of the RTP schedule and explains how to complete and lodge it. The webinar can be accessed hereExternal Link.

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    Last modified: 11 Feb 2019QC 56109