On 1 July 2000, the Howard Government introduced the GST. Since that time, like clockwork, the ATO has issued paper activity statements either monthly, quarterly or annually to abet businesses and individuals to deal with their intermittent tax obligations. Like clockwork, we as registered agents have received, perused and forwarded these documents to our customers. In my mind the system has worked. It has created triggers for dialogue and interaction between taxpayers and their advisors and it is good for all. I am a firm believer that the GST has forced Australian business as a whole to improve its record keeping and therefore improve business practices.
A lot can happen over 15 years. Economic cycles come and go, elections won and lost, money and hearts won and lost.
One thing we have seen is the impact of technology on communication. True and false urgencies created and a digital footprint created of our virtual dealings.
We are presently witnessing three mega trends:
- The march to the “cloud”;
- The need for “digitization”; and
- The emergence of “big data” as distinct from “data”.
- The ATO will persist in sending paper statements until they receive an electronic lodgement; Once the ATO receives an electronic lodgement, the next activity statement to be generated will not be sent as paper unless the person is represented by another agent.
- From there the ATO will “deliver” all activity statements thereafter to your “ELS mailbox”. Activity statements delivered to your ELS mailbox will also be available in the portal.
- You will need to sign up to the Government business portal (or allow us to receive it for you).
- The ATO will then E-mail you to advise that your next Statement is on line.
- Who owns my data?
- Is it secure?
- Is it available? What happens if the third party servers break down?
- Is it expensive for what it offers? Will it become moreso?
- Do I need the convenience?
- What data can big brother access without my knowledge?