On December 9, 2016 the Australian Taxation Office (ATO) released its Corporate Tax Transparency Report for 2014- 2015 which covers Australian public and foreign-owned companies with an income of 100 million Australian Dollars (AUD) or more, and Australian-owned resident private companies with an income of AUD 200 million or more.
This is the second annual report (https://data.gov.au/dataset/ corporate-transparency) that the Commissioner has published setting out certain tax information about relevant companies as extracted from their lodged tax returns including total income, taxable income and income tax payable. It also includes those entities with Petroleum Resource Rent Tax payable. Tax Administration and Case Law Australia.
PwC observation: A key challenge for companies operating in this environment is to ensure that their tax affairs are properly understood, bearing in mind the information that is being included in the public domain. As the implications of such public disclosure of information can be far reaching, particularly the potential for misinformation, affected taxpayers should consider whether additional stakeholder communications are appropriate.