The Inspector-General of Taxation (IGT) Ali Noroozi, is conducting another review into the taxation system. But with the IGT review currently underway, there is a difference. Instead of analysing existing issues — such as the ATO’s current practices or support systems, or its management of disputes and so on — the new IGT review is looking forward, and is focusing on the future of the tax profession.
The review’s terms of reference not only embraces the more obvious factors such as technological advancement and automation of tasks, but also community expectations as well as policy and regulatory developments. There are also unavoidable issues to be considered due to the entry of new intermediaries into the tax system, such as financial advisers who may also provide tax advice.
Digital future Digital transformation in particular is changing not only the way that the ATO and the tax profession interact, but also the scope and breadth of the information exchanging between them. Already practitioners and their clients will have seen huge developments in technology and its application — examples include the ATO Portals, the Electronic Lodgment Service and development of the new Practitioner Lodgment Service, the roll-out of myTax and even the introduction of the ATO’s live chat service “Alex”.
For his part, the IGT foresees the pace of change not only continuing but escalating, with other professional groups, such as software and hardware developers, data analysts and providers of banking and payment services, playing a greater role in the tax system of tomorrow. Changes to the industry are expected to receive a further boost through the application of developments in artificial intelligence and automation to perform tasks that have until now been “hands-on”. As such, the evolution of the way in which tax practitioners earn their livelihood is in a large part out of their own hands.
In a wide-ranging conversation with Tax & Super Australia’s Tax Counsel Peter Adams, the IGT Ali Noroozi spoke in this free webinar recording (see below) on the many issues facing members of the tax profession, and what the future may, or may not, look like for practitioners.
Have your say Tax & Super Australia is writing a submission to the IGT on the future of the tax profession. Readers are invited to write to us with your views (email support@taxandsuperaustralia.com.au). Members of Tax & Super Australia should indicate that they have a current membership.
Free webinar recording The picture below shows Peter Adams (left) talking with the Inspector-General of Taxation Ali Noroozi. To view the webinar recording (it’s one hour long) click on the caption below the picture.
📷Tax & Super Australia’s Tax Counsel Peter Adams (left) talks with the Inspector-General of Taxation Mr Ali Noroozi.
# [ATO], [digital by default], [IGT], [tax], [tax practice]
Comments