Australia: ATO requesting information on corporate tax transparency data for large companies
ATO plans to publish this year’s report in early November
ATO requesting information for large companies
The Australian Taxation Office (ATO) in September 2023 will be writing to large public and private companies that meet the corporate tax transparency threshold for the income year 2021-2022, to help gather tax information for publishing in the report of entity tax information.
According to the ATO release, the ATO will be reporting on the following companies this year:
- Australian public or foreign owned entities with a total income of $100 million* or more
- Australian resident private companies with a total income of $200 million or more
- Entities reporting petroleum resource rent tax (PRRT) payable
Companies that meet the threshold for inclusion in the 2021-2022 income year report that didn’t receive a letter from the ATO by the end of September are advised to email ReportingEntityInfo@ato.gov.au.
The ATO plans to publish this year’s report in early November and will outline the steps companies can take to correct any errors before the report’s publication.
*$ = Australian dollar
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