The Inspector-General of Taxation and Taxation Ombudsman (IGTO) has produced a report on the future of the taxation profession in light of the challenges presented by new and emerging digital technologies.
Acting IGTO, Andrew McLoughlin said the review was undertaken in response to requests from a broad range of stakeholders including the Commissioner of Taxation.
He said it touched on a wide range of areas and provided useful input into the opportunities and challenges ahead for tax professionals.
“It examines the challenges and opportunities presented by new and emerging digital technologies, along with the accompanying social, policy and regulatory impacts on the administration of the tax system and the tax profession,” Mr McLoughlin said.
Deputy Commissioner of Taxation, Alison Lendon said the Australian Taxation Office (ATO) welcomed as, like so many other professions, tax professionals were experiencing a number of changes in the way they worked and the nature of their role.
“This report explores a range of those areas and provides some important insights,” Ms Lendon said.
She said the ATO worked closely with the profession, talking to practitioners about how it could provide new services and refine existing ones to assist them and to help the tax and superannuation systems work smoothly.
Ms Lendon said the IGTO had quite rightly focused on digital services and their increasingly important role.
“We are well advanced on a number of areas noted in the report,” Ms Lendon said.
“We are constantly undertaking research into new and emerging technologies to assess their impact on the tax and superannuation ecosystems and our clients.
“We will continue to communicate, co-design and consult with the profession when considering new technology,” she said.
The Inspector-General’s report can be accessed at this PS New link.
