The Australian Taxation Office (ATO) has released its Corporate Plan for 2024-25, outlining the strategic priorities that will shape tax, superannuation and registry systems over the coming years. 

Here are our key insights from the ATO's Corporate Plan 2024-25 for DSPs. 

Enhanced Fraud Detection and Data Security

The ATO continues to strengthen its defences against fraud to detect it in near real-time and bolster data security. The ATO will actively assess vulnerabilities and implement measures to protect its systems and the broader tax ecosystem from sophisticated threats. 

Commitment to Digital Transformation

The ATO is advancing its digital capabilities, ensuring that its systems are modern, resilient and capable of meeting the evolving needs of taxpayers and businesses. There will be ongoing investments in technology infrastructure to improve system reliability and user experience. The Corporate Plan signals the ATO's commitment to digital-first interactions within tax and superannuation systems. 

Focus on Compliance

The Corporate Plan highlights the ATO's efforts to maintain high compliance levels across tax and superannuation obligations and address under-reporting or non-compliance efficiently. The ATO is dedicated to enhancing the integrity of superannuation systems, particularly in ensuring that employees their superannuation guarantee obligations. Another compliance focus area is multinational and large businesses.

Expansion of Data Collection and Analytics Capabilities

The ATO is expanding its use of data collection and analytics to support decision-making processes. The Corporate Plan outlines the ATO's intention to leverage automation and AI responsibly to improve operational efficiency. The ATO aims to strengthen its risk management through enhanced data analytics capabilities, including its ability to manage emerging risks. 

Ongoing Collaboration and Engagement with Stakeholders

Collaboration is a key theme throughout the Corporate Plan - emphasising the ATO's work with various stakeholders, including DSPs, to ensure that policies and systems are aligned with the broader community's needs. The ATO's continued commitment to industry partnerships highlights DSPs and other stakeholders' vital role in this ecosystem. 

One particular project noted in the Corporate Plan is the ATO continuing to consult with key partners on a multi-year approach to make it easier for small businesses to meet their tax and super obligations.

Conclusion

The Corporate Plan 2024-25 provides notable insights into the future direction of Australia's tax and superannuation systems for DSPs. DSPANZ will continue to update our members on these and other important ATO projects through our website and newsletters. 

Read the full 2024-25 Corporate Plan here.