The primary channels Pronto uses to stay informed of developing compliance requirements;
Software Industry Liaison Unit (SILU)
SILU is a unit of the ATO which supports and informs software developers about the requirements of tax related products created for the Australian market.
SILU offer a number newsletters and bulletins to which Pronto subscribes. You can subscribe via this LINK to any number of subject areas but be prepared to receive regular emails and updates which will provide hours of riveting content. SILU also provide email Support to the software industry and will generally answer any tax related question quickly.
Subscribing to SILU is an excellent way to stay informed and the support desk is a fantastic resource in terms of clarifying specific requirements.
SILU and the ATO also offer a number seminars and workshops designed to assist software developers and other relevant stake holders to understand ATO requirements.
Software Developer Consultative Group (SDGC)
Pronto Software has just signed on for another year as a member of the Software Developers Consultative Group(SDCG). The SDCG is representative of the tax related software industry serving Australian businesses and individuals and is also the key consultative group of the industry for government agencies..
The SDCG has a representative membership of the software industry including; business accounting, tax agent, superannuation and payroll products. The SDCG counts many recognised brands among its members, including: Attache, Banklink, BT Financial Group, Computershare, MYOB, Oracle, Reckon, Sage, SAP, Talent 2 and Xero.
The SDCG meets six times annually (and liaises bi-monthly). These meetings are designed to allow the SDCG to liaise with the ATO and various government agencies including treasury to champion the interest of the software industry.
A key objective of the group is to help both the ATO and Treasury understand the feasibility and impact of intended legislation and well as the timing and practicality of implementing newly enacted legislation. To this end, the September meeting will be taking place in Canberra specifically so the SDCG can meet Treasury officials to discuss upcoming changes which will require the reporting of ‘actual payment date’ of superannuation on pay slips.
The Pronto Community
The 1993 movie Six degrees of Separation refers to the idea that everyone is on average approximately six steps away, by way of introduction, from any other person on Earth.
By inference the extended Pronto community is therefore well placed to be aware of relevant information and able to share that information by both formal and informal channels
So how do you stay informed of the information that is critical to your business?