The Australian Taxation Office has announced the issuance of the Reportable tax position (RTP) schedule instructions 2021.
RTP schedule instructions 2021
We have published the Reportable tax position (RTP) schedule instructions 2021 to assist you with completing your lodgment obligations. There have been significant changes made to the instructions, including:
- simplified Category B
- additional and altered Category C questions
- guidance on the RTP schedule expansion to large private companies.
Who needs to lodge
Public and foreign owned companies will need to self-assess against the criteria set out under 'who needs to lodge' in the instructions.
Large private companies that have been notified of their requirement to lodge for the income year starting on or after 1 July 2020.
How to lodge
You may be able to lodge the schedule as part of your tax return using the same SBR-enabled software you use to complete and lodge your tax return.
If your software doesn't provide the schedule for electronic lodgment, download and complete the Reportable tax position schedule 2020 form (PDF). You can then lodge it via:
You will need to lodge the form online as part of your income tax return (ITR). Make sure to lodge your ITR and schedules by the due date, to avoid incurring penalties for failing to lodge on time.
If you need assistance or have questions about your lodgment obligations, contact us via email ReportableTaxPosition@ato.gov.au