Australia Reduces Corporate Tax Transparency Income Threshold for Australian-Owned Resident Private Companies

The Australian Taxation Office (ATO) has issued a release announcing a reduction in the corporate tax transparency income threshold for Australian-owned resident private companies from AUD 200 million to AUD 100 million from the 2023 income year. The ATO also issued a separate release on the upcoming publication of tax transparency reports based on information reported in 2020–21 income tax returns and returns from 2018–19 and 2019–20 if they were lodged or processed after 1 September 2021 …