Australia Defers Expansion of Reportable Tax Position Schedule Requirement to Large Private Companies and Corporate Groups to 1 July 2020

The Australian Taxation Office (ATO) has issued a release announcing that the expansion of the requirement to lodge a Reportable Tax Position (RTP) Schedule to large private companies and corporate groups has been deferred to the 2020-21 financial year beginning 1 July 2020. This follows a recent consultation on an ATO proposal to expand the lodgment requirement to all companies for years ending on or after 30 June 2020 if:

• Their total business income exceeds AUD 250 million for the year; o…