Can you identify your Reportable Tax Positions? - 25 September 2018
Reportable Tax Positions (RTPs), and the requirement to lodge an RTP schedule, have been in place since 2011. However, the RTP disclosure requirement has been significantly broadened for income years ending on or after 30 June 2018 to include all companies in economic groups with a turnover greater than AUD 250 million (where notified by the Australian Taxation Office (ATO)). It is expected that the RTP regime will cover approximately 1,100 taxpayers.