What's new
We no longer notify taxpayers of their obligation to lodge a Reportable tax position (RTP) schedule. You are required to lodge the schedule if your entity meets certain criteria, even if your entity has no disclosures to make. You may still be required to lodge the schedule even if your entity doesn't meet the criteria. We will notify you if this is the case.
We have removed the exceptions to disclosing positions covered by private rulings or advance pricing arrangements (APA).
We have made changes to the definition section of the instruction:
- the definition of a public company has expanded
- the term foreign-owned company has been defined
- the term majority controlling interest has been defined.
Who needs to complete the schedule
You need to complete the schedule if your entity:
- is lodging a company tax return for the entire year
- is a public company or a foreign owned company
- has total business income of either
- $250 million or more in the current year
- $25 million or more in the current year and is part of a public or foreign owned economic group with total business income of $250 million or more in the current year or the immediate prior year.
If your entity meets the criteria you need to lodge the schedule even if it has no disclosures.
We have provided examples to help you:
- calculate your entity's group income
- work out who is in your entity's economic group
- determine if your entity is a public company or foreign owned company.
Exceptions to lodgment requirement
You are not required to lodge the schedule if your entity:
- isn't required to lodge a company income tax return for the income year. This is because the RTP schedule is a schedule to the company tax return.
- has an annual compliance arrangement (ACA) with us for the relevant income year. Under this it agreed to provide full and true disclosure and ongoing dialogue of all material tax matters, including any positions that fall within any reportable tax position category.
If you are uncertain if your entity is required to lodge the schedule you can email