We have a range of regulatory responsibilities, with a key role as the government’s principal revenue collection agency.
We are committed to achieving our purpose in line with the government’s expectations for regulator performance. The following table represents the alignment of our key elements to the 3 principles of regulator best practice:
Principle 1 – Continuous improvement and building trust
Regulators adopt a whole-of-system perspective, continuously improving their performance, capability and culture to build trust and confidence in Australia’s regulatory settings.
Principle 2 – Risk based and data driven
Regulators manage risks proportionately and maintain essential safeguards while minimising regulatory burden and leveraging data and digital technology to support those they regulate to comply and grow.
Principle 3 – Collaboration and engagement
Regulators are transparent and responsive communicators, implementing regulations in a modern and collaborative way.
|
Description |
Continuous improvement and building trust |
Risk-based and data-driven |
Collaboration and engagement |
|---|---|---|---|
|
1. Collect the right amount of tax in the most efficient way for government and the taxpayer |
✔ |
✔ |
✔ |
| 2. Deliver fair, secure and transparent taxpayer interactions to make it easy to comply and hard not to |
✔ |
✔ |
✔ |
| 3. Manage our responsibilities in the superannuation system to support the future retirement savings of the community |
✔ |
✔ |
✔ |
| 4. Administer a range of payments and transfers on behalf of government |
✔ |
✔ |
✔ |
|
Description |
Continuous improvement and building trust |
Risk-based and data-driven |
Collaboration and engagement |
|---|---|---|---|
|
Government |
✔ |
✔ |
✔ |
|
Scrutineers |
✔ |
– |
✔ |
|
Industry |
✔ |
✔ |
✔ |
|
Community |
✔ |
✔ |
✔ |
| International partnerships |
✔ |
✔ |
✔ |
|
Description |
Continuous improvement and building trust |
Risk-based and data-driven |
Collaboration and engagement |
|---|---|---|---|
|
Registration (Companies) |
✔ |
✔ |
✔ |
|
Registration (Individuals) |
✔ |
✔ |
✔ |
| Lodgment |
✔ |
✔ |
✔ |
| Tax gap |
✔ |
✔ |
✔ |
| Total revenue effects |
✔ |
✔ |
✔ |
| Payment |
✔ |
✔ |
✔ |
| Debt |
✔ |
✔ |
✔ |
| Cost of collection |
✔ |
✔ |
– |
| Compliance cost |
✔ |
✔ |
✔ |
| Service satisfaction |
✔ |
✔ |
✔ |
| Administered programs |
✔ |
✔ |
✔ |
|
Description |
Continuous improvement and building trust |
Risk-based and data-driven |
Collaboration and engagement |
|---|---|---|---|
|
Regulator Statement of intent |
✔ |
✔ |
✔ |
Our Ministerial Statement of ExpectationsExternal Link and Regulator Statement of IntentExternal Link are publicly available on the Treasury website.