Australia Tax Agency Issues Guidance on Reportable Tax Position Schedule for 2023

The Australian Taxation Office March 10 issued guidance on the reportable tax position (RTP) schedule for companies with total business income of at least A$250 million (US$166.1 million) in the current year, or at least A$25 million (US$16.6 million) as part of an economic group with total income of at least A$250 million. Topics covered include: 1) new and updated questions for RTP schedules submitted in 2023; 2) the procedure for submitting additional information and making changes to RTP schedules; and 3) an exemption from filing an RTP schedule for taxpayers under annual compliance arrangements. [Australia, Australian Taxation Office, 03/10/23] ...