A statement made in the RTP schedule is not a voluntary disclosure for the purposes of section 284-225 of Schedule 1 to the TAA.
The RTP schedule is part of the income tax return and must be lodged if you are required to do so. Completing and lodging the RTP schedule, as per the schedule instructions, does not satisfy the ‘voluntarily tell’ requirements.
To make a voluntary disclosure you must voluntarily tell the Commissioner about a shortfall amount, a scheme shortfall amount or the false or misleading nature of a statement. That is, the disclosure must be about a statement that has already been made.
A remission of the shortfall penalty for not having a reasonably arguable position or for making a false or misleading statement may be given in certain circumstances where the Commissioner can identify and calculate the shortfall amount based on the information provided in the RTP schedule.
See also:
- Miscellaneous Taxation Ruling MT 2012/3 Administrative penalties: voluntary disclosures