tax transparency


Public tax transparency laws should be changed to require the ATO to publish current year accounting profit/loss extracted from the tax return as well as the current total turnover, taxable income and taxes payable figures. This should help in the public's understanding of company tax performance and reduce the chance of the current data being used in a misleading fashion. It also better aligns with what companies will be publishing as part of the tax transparency code.

Board response

The Board agrees this idea has support within the tax community. The Board will raise this at an appropriate stage but ultimately policy is a matter for Government.