- Hector Thompson is speaking at the Tax Institute’s National GST Conference in Australia.
- He acknowledges the traditional owners and custodians of the land.
- He thanks the Tax Institute for the opportunity to speak and his team for their assistance.
- The theme of his speech is the future of GST compliance.
- Tax systems must adapt to change.
- The GST system in Australia has evolved over the years.
- The ATO adopted a flexible approach during the transition period.
- Innovations were introduced to enhance the client experience and reduce compliance costs.
- Digital transformation has had a significant impact on GST compliance.
- The system has adapted well to changes in technology and consumer spending habits.
- GST cash collections were over $81 billion in the 2022-23 financial year.
- GST receipts are expected to grow by 5% to $86 billion in the current financial year.
Source: ato.gov.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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