Australia Tax Agency Issues Guidance on Reportable Tax Position Schedule for 2026

The Australian Taxation Office Jan. 29 issued guidance on the reportable tax position (RTP) schedule for the 2026 income year, for companies with a total business income of at least A$250 million (US$175.5 million), in the current year, or at least A$25 million (US$17.5 million) as part of an economic group with a total income of at least A$250 million. Topics covered include: 1) an outline of changes to the 2026 RTP schedule, and updated questions and refinements; 2) the removal of the exemption for taxpayers in the annual compliance arrangement program following the program’s conclusion; 3) the procedure for ...