Fund ATO to tackle debt book

Today on the Accountants Daily podcast, Scott Treatt of the Tax Institute says the ATO’s debt book is ballooning and funding to address the problem needs to put on a proper footing. An additional $650 million in the recent budget for the Tax Avoidance Taskforce highlights how effective it has been, he says, but creates issues of its own. “If I look at it from a policy perspective, it is temporary and provides an administration challenge,” says Scott. “That leads to them having contractors as opposed to full-time staff that can be brought in and trained up and given the skill-set to really have an enduring life at the ATO. Scott also discusses other issues that urgently need attention, such as the disincentives for a second parent to take on full-time work due to the costs of childcare.