For some of you, these changes will be immediate and unpredictable, while for others these changes will be gradual and less obvious; and for some it will be the catalyst to innovate your business.
We will consult and co-design with the Tax Practitioner community about the future of the highly valued Tax Agent portal, to ensure that our business directions reflect the business needs of this group.
Effective and transparent business reporting allows organizations to present a cohesive explanation of their business and helps them engage with internal and external stakeholders, including customers, employees, shareholders, creditors, and regulators.
Using analytics more effectively — as you would expect, the ATO holds vast amounts of data and receives large amounts each year. Track and promote the progress of service measurement and service reporting improvement requests.
More apps will follow, especially in the small business area where we need to help small businesses to better comply with their tax obligations and to reduce their current high debt levels with the ATO. We anticipate that as many as 1. We have an opportunity to improve our use of analytics to predict lodgment patterns for taxpayers, their propensity and capacity to pay in debt cases, and objections from audit cases.
In the s, the ATO developed what has become known as the Braithwaite model of compliance — under this model, taxpayers fall into four simple categories: Our future online offerings will need to be informed by user needs, and be device agnostic, standard business reporting strategy we standard business reporting strategy to become the more contemporary service organisation we aspire to be.
It can assist with the challenges faced by large business with complex corporate structures, with many reporting entities; and possibly the need to source data from multiple software applications.
To give you an idea of our vision, here are some of the main headlines. I acknowledge your ancestors, your languages and your songs. The service analyst is responsible for analyzing service information for trends, changes, and anomalies to provide insight and foresight for service operations and continual service improvement.
It is time to think about how you will evolve your business with the changes that I have outlined today — how will you maximise the opportunity? I imagine you are thinking 'we have heard plenty of talk from government people about how we can make it easier for you to do this or that'. This opportunity is not just about the adoption of technology, it is about transforming the way financial and other services support your business objectives and re-shaping your business model.
There is no denying technology plays a significant role in your businesses, and going forward, it will play an even greater role.
Reducing or even eliminating the burden for compliant individuals with simple tax affairs by generating 'push' tax returns — the ATO has substantial amounts of information about taxpayers and for those with simple returns, we estimate that on current policy settings we could initially offer a 'push' tax return for as many as 1.
There is no denying technology plays a significant role in your businesses, and going forward, it will play an even greater role. While SBR has been available to the market since and takeup is increasing, recent developments such as the rise of mobile computing, cloud computing and the ongoing need to support large-scale data exchanges may require consideration of a wider range of transmission methods and messaging formats for SBR than are currently being used.
We are looking for willing partners to help us demonstrate the benefits of SBR in very practical ways that will build the credibility of SBR as a way of doing business with government. The harsh reality is that many are no longer in business.
For tax practitioners, we are committed to providing a better service integrated with business software. This, together with the maximum three day processing time delivers real benefits for fund members which will ultimately improve their retirement incomes.
Let me be clear though, there is a lot of detail still to be worked through in consultation with industry. Our data warehouse currently holds over 20 terabytes of data and is growing at over 20 per cent a year; we receive over million transactions of data each year from third parties.
At the time the Electronic Lodgment Service was introduced in the late s, it was a contemporary service offering. Standard formats shall be used for dashboards, scorecards, reports, logs, etc. My purpose here today has been to be 'upfront' and let you know our thinking and to start a dialogue with you.
There is much more to do here, but analytics will play a key role in supporting our intended move to more real-time, online taxpayer interaction with the ATO. Achieving our full outcome is quite likely to require government policy changes. The XBRL data can be re-used internally for value-add activities, with enhanced analytical capabilities and re-use of the data for internal management and decision making.
Our compliance arm exists to ensure that taxpayers in similar circumstances pay the same amount of tax — that is, that the ATO ensures a level playing field for all. I say to our people that I am in the service delivery business because the great majority of taxes paid in Australia come to the ATO voluntarily.
Across the financial year, there were nearlylodgements using SBR, but already this year, there have been more thantransactions by the end of September. We want to work collaboratively with technology partners, software developers and tax practitioners to achieve this outcome. We are already using analytics to automate some high volume processes, to make automatic corrections in data supplied to us by taxpayers, and to mine large amounts of textual information to find the nuggets of value from a compliance and business management point of view.Gaining from data standards Eight ways for regulators to improve business reporting 5 1.
Put XBRL on the political agenda Gaining from data standards Eight ways for regulators to improve business reporting 7 the overall vision and strategy for the future XBRL program.
strategy by April 30,in conjunction with the objectives of CAP Goal #8, to eliminate ofan agency's readiness and maturity to adopt Federal-wide standard business processes and. Time for action: the ATO's electronic service strategy and Standard Business Reporting.
Speech by Geoff Leeper, Second Commissioner People, Systems and Services Group to the Advanced Professional Solutions Annual Client Conference Queenstown, New Zealand, 16 November Strategic Business Leader and Strategic Business Reporting (for exams from September ) SBL Strategic Business Leader.
Business Strategy and Technology; CPA Australia. Foundation Level (for exams until December ) Foundations of Accounting; Financial Accounting and Reporting. The standard reporting system consists of several technology components.
You must have a tool for the report designer — either someone in IT or a skilled business user — to define reports. You need management services for report storage, execution and security. Superannuation data and reporting standards; The ATO provides a number of common artefacts and reference documents to support DSPs (such as the ATO common business guides and the ATO Service Support Versioning Strategy).Download