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 considers:
- 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?