The Australian Taxation Office (ATO) is calling for expressions of interest from tax professionals to join its Tax Practitioner Stewardship Group (TPSG).
This group is aimed at enhancing engagement between the ATO and tax practitioners, gathering insights into the impact of policy and administrative changes within Australia’s tax and superannuation systems.
As reported by TheMandarin, the ATO is particularly focused on fostering a diverse range of tax professionals to inform ongoing reforms and ensure that the tax profession is well represented in shaping key decisions.
Aiming for Diverse Representation
The ATO‘s request for new members underscores its commitment to fostering a diverse range of perspectives within the tax profession. The TPSG will bring together tax professionals with various skills and experience to provide insights on the challenges and opportunities faced by practitioners in light of ongoing regulatory changes.
The Tax Practitioner Stewardship Group (TPSG) is one of the ATO’s stewardship groups that operates to improve tax practitioner engagement in supporting their clients to meet their obligations within Australia’s tax and superannuation systems – the newsletter says.
To ensure the effectiveness of the group, we are seeking a diverse range of tax practitioners with skills and experience to help us understand the issues and effects of policy and administration changes impacting tax practitioners and their clients.
This is an opportunity to be involved in direct, continuing dialogue with us on topics and issues that matter for Australia’s tax profession.
The primary goal of the TPSG is to engage tax practitioners directly in discussions about policy and administrative changes.
By ensuring that a wide spectrum of professionals is involved, the ATO hopes to understand the practical effects of these changes, which will, in turn, help to inform the ongoing development of Australia’s tax framework.
Key Areas of Ato Focus for Small Businesses
Alongside the call for new committee members, the ATO’s latest newsletter highlights key areas of focus for tax agents working with small-business clients. These include increased vigilance over BAS reporting for GST, contractor income omissions, and small business boost measures.
In particular, the ATO is emphasising the importance of accurate reporting to develop better record-keeping habits among small businesses.
The ATO also urges tax agents to inform their small-business clients about potential changes in reporting requirements.
Starting in March 2025, businesses with a history of failing to comply with tax obligations will be notified that they will switch from quarterly to monthly reporting cycles, effective from 1 April 2025. This measure is part of the ATO’s corrective actions to help improve compliance among small businesses.
If you operate a small business and have a history of failing to comply with your tax obligations we can move you from quarterly to monthly reporting as part of our corrective action – The ATO’s website explains.
