Live data feeds to the ATO are a fact of life. STP is an intermittently live data feed. The expectation is that more and more information will be provided to the Commissioner in “real time”.
This session will consider:
- Is the provision of a “live stream” of raw data the making of a “statement” to the Commissioner?
- How do taxpayers and the Commissioner handle the inevitable errors in the live data feed?
- What further issues arise when reporting, assessment and payment are all conducted in real time?
- Is it time for a wholesale review of the law in this area?