ATO sets out small business vision for 2024

In a speech to IPA delegates, ATO deputy commissioner Deborah Jenkins noted how the digital age offers new opportunities to transform the experience for small business.

In particular, Ms Jenkins said the ATO wants to:

• Increase its use of digital technology and availability of tools and services; and

• Reduce complexity for taxpayers confronted with large tax bills, something she said will save a lot of time, effort and money for small business.

“Using digital solutions will make it even easier to comply, and streamline our processes to better tailor and target our enforcement and services,” Ms Jenkins said.

“While small businesses will be the beneficiaries of this future state tax and superannuation system, we will also be improving the integrity of the system as there will be fewer errors and mistakes made during the preparation of tax returns.

“The use of data, and of moving compliance interventions upstream, is aligned with and supports our focus on prevention before correction.”

At the same time, Ms Jenkins said the ATO will continue working with small businesses and their accountants to help them navigate complexity and avoid mistakes, and ensure they are meeting their obligations and take action when it sees failure of compliance.

“The reinvention journey we have been on for the last few years has allowed us to improve the experience for small businesses,” she said.

“However, as an organisation we recognise that it has only got us part of the way there, we still have plenty to improve on and we need to continue to evolve with the changes in the environment around us.”