Our key focus areas for 2024–25 are strategically important for us to succeed in the year ahead. They contribute to our key activities, and ultimately help us achieve our purpose. They take into account our capabilities, operating environment and cooperation with partners. They contribute to our focus on delivery of committed priorities, and they drive tax performance by:
- fostering willing participation
- strengthening the integrity of the Australian tax system along with aspects of the superannuation system and business registry systems.
We acknowledge the majority of taxpayers are willing to do the right thing and comply with their tax obligations. We are committed to providing support for those who need help with their tax and superannuation obligations or when unexpected events make it hard to lodge or pay on time. Additionally, we remain dedicated to fulfilling our regulatory duties for the tax system and critical components of the superannuation and registry systems.
Underpinning these focus areas are our continued advancements harnessing data and digitalisation to transform our business and to achieve our purpose.
Strengthening debt collection
We will implement our new payment strategy by enhancing our tailored approaches to different client segments and further calibrating our actions in alignment with the client’s capacity to pay and past compliance history. We will have an increased focus on business debt including superannuation guarantee, pay as you go withholding and goods and services tax (GST).
We will support clients who are engaged to get them back on track. We will take decisive and swift action with those clients who make the choice not to engage and who purposefully avoid payment obligations. Through our enhanced data and improved analytics capability, we will better identify the drivers for non-payment and refine our strategies to drive on time payment.
Enhancing counter fraud measures
We will further protect systems and clients from fraud in the Australian tax system along with aspects of the superannuation system and business registry systems, by strengthening our digital platforms.
We will also:
- collect and monitor a combination of internal and external data sources and information to detect fraud in close to real time
- actively assess control vulnerabilities in the system and identify treatments needed
- take firm action on areas of suspected fraud and ensure adequate consequences for intentional deceit or reckless behaviour.
Sustaining multinational and large taxpayer performance
We will continue to pursue new priority-tax-risk areas to improve compliance for multinational enterprises, as well as public and private businesses and groups.
By addressing key risks to the corporate tax base and closing tax loopholes, the community can have confidence that public and multinational businesses are paying the right amount of tax in Australia.
Better public reporting of large business tax information will boost tax transparency and support the integrity of the tax system.
We will also support large businesses through our timely provision of tailored advice and guidance, and other contemporary services.
Enhancing our cybersecurity
We will:
- continue to strengthen our systems to monitor, detect, and respond to cyberthreats, and protect the data we hold
- deliver our Cybersecurity program, supporting the government’s 2023–2030 Cyber Security Strategy
- apply multiple layers of security to fortify our organisation and uplift our processes and technology to defend and safeguard our systems
- use data and intelligence to:
- understand cyberthreat behaviour
- provide advanced detection and response
- mitigate risks to our information and communications technology ecosystem
- continue to support our clients to be cyber-safe and aware, and uplift the cyber-skills of our staff fostering a cyber-resilient culture.
Strengthening the value of data and digital
We will:
- expand our data and digital capability, building on strong foundations, to deliver end-to-end digital client and staff experiences
- implement digital strategy initiatives to accelerate the digitalisation of the tax ecosystem
- responsibly expand our use of automation and artificial intelligence (AI) to increase operational efficiency
- strengthen our risk management to future proof our capability and capacity to manage emerging risks and ensure we can continue to use data and analytics safely and responsibly.
Blueprinting a future small business digitalised tax experience
We will continue to consult with key partners and publish a multi-year approach designed to make it easier for small businesses to meet their tax obligations from the start and on time.