The ATO has released the Reportable tax position (RTP) early disclosure form 2012 and accompanying instructions. For taxpayers required to lodge a reportable tax position schedule for 2012, the ATO says the early disclosure form enables them to disclose RTPs prior to lodgment of the schedule.
For taxpayers completing the RTP early disclosure form, the ATO says it must be received at least 28 days before the lodgment of the RTP schedule for 2012. Further, it says RTPs included in the early disclosure form do not need to be included in the reportable tax position schedule for 2012. However, the ATO says taxpayers must still complete and lodge the schedule.
[LTN 1, 4/1]