The Australian Taxation Office (ATO) has issued a notice on the need for taxpayers to self-assess their obligation to lodge a Reportable tax position (RTP) schedule.
Self-assess your requirement to lodge an RTP schedule (public or foreign owned companies)
From 30 June 2019, taxpayers are no longer notified of their obligation to lodge a Reportable tax position (RTP) schedule. Instead, you are required to self-assess your company's requirement to lodge based on certain criteria.
Your company will need to lodge an RTP schedule with the 2019 tax return if it is:
Your company will need to lodge the schedule if it meets the criteria even if it has no disclosures.
In exceptional circumstances a taxpayer who does not meet the self-assessment criteria will be asked to lodge the RTP schedule. If your company does not meet the criteria but is required to lodge, we will phone you prior to issuing a notification letter.
We have published guidance and instructions to assist you complete the schedule. Email ReportableTaxPosition@ato.gov.au if you need information on the schedule requirements.
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