Budget 2015: Tax Compliance
The ATO will be given an extra $265.5m over three years and the ability to modify the operation of tax law to ensure its purpose or objective is achieved.
There is also quite a bit of money set aside for streamlining how Government interacts with business and individuals to streamline compliance and unnecessary form filling.
There are no other details on this change but we'll bring you more as soon as details are released.
The funding includes the creation of a Digital Transformation Office within the Communications portfolio. Among the initiatives, the Government is looking to:
- Implement a 'tell us once' service so you can update your contact details once for all agencies
- Streamline grants administration including a single portal to search and apply for all grants
- A whole of Government digital mail box to enable you to receive and transact digital messages with the Government in a secure and seamless environment
This measure is part of an ongoing program announced as part of the Coalition's election policies.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.