[4296] Taxpayer use of Artificial Intelligence in Tax Affairs [new]
The ATO is proposing to update various products to address using Artificial Intelligence (AI) in complying with tax obligations.
Title
Update to Miscellaneous Tax Ruling
Miscellaneous Taxation Ruling MT 2008/1 Penalty relating to statements: meaning of reasonable care, recklessness and intentional disregard
Purpose
The ATO is proposing to update Miscellaneous Taxation Ruling MT 2008/1 Penalty relating to statements: meaning of reasonable care, recklessness and intentional disregard.
The updates are intended to provide guidance on how the concept of 'reasonable care' applies where taxpayers use AI in complying with their tax obligations.
Expected completion
To be advised
Contact
Rozanna Jones, Tax Counsel Network
Title
Update to Miscellaneous Tax Ruling
Miscellaneous Taxation Ruling MT 2008/2 Shortfall penalties: administrative penalty for taking a position that is not reasonably arguable.
Purpose
The ATO is proposing to update Miscellaneous Taxation Ruling MT 2008/2 Shortfall penalties: administrative penalty for taking a position that is not reasonably arguable.
The updates are intended to provide guidance on how the concept of 'reasonably arguable position' applies where taxpayers use AI in complying with their tax obligations.
Expected completion
To be advised
Contact
Rozanna Jones, Tax Counsel Network
Title
Fact sheet
ATO Statement on the Use of Artificial Intelligence in Tax Affairs
Purpose
A fact sheet is being prepared to explain appropriate use of AI in interactions with the ATO and in complying with tax obligations.
The fact sheet is intended to promote the safe and responsible use of AI and may include practical information about the importance of using accurate facts, checking outputs against reliable sources such as legislation, case law and ATO public advice and guidance and reviewing AI-generated outputs for accuracy before relying on them.
Expected completion
To be advised
Contact
Rozanna Jones, Tax Counsel Network