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Learn moreAustralia: Update on corporate tax transparency reporting for 2022-2023 and onwards
2022-2023 will be the first year that data will be reported
The Australian Taxation Office (ATO) released an update on its corporate tax transparency reporting for the 2022-2023 income year and onwards, confirming that following the 2022 amendment to the Corporate Tax Transparency law, 2022-2023 will be the first year that data for Australian-owned private entities with total income between $100 million* to $200 million, as well as entities reporting petroleum resource rent tax (PRRT) payable, will be reported.
The ATO will write to companies in September with the reported tax information it plans to publish, along with outlining the steps companies can take to correct any errors in its report before publishing. The ATO expects its report to be published in late October or early November.
*$=Australian dollar
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