New ATO Communication Rules
Another year and another step down the path to complete digital communication. Importantly, this change requires action by you, which Holmans can not do on your behalf – so please read on.
The ATO is quickly moving to full digital communication with all taxpayers, and directly, not via the Tax Agent first. There is a very good reason for the above – Your Privacy.
The ATO are trying to ensure secure communication with taxpayers, to protect your identity, to ensure you don’t receive scam calls/emails and to protect your assets. The best way for them to do this is via MyGov and the Business Portal (both secure Government Portals). In fact, if you have lodged anything electronically recently… via your tax agent, your bookkeeper, or personally…. The ATO will assume all future correspondence should be going electronically via your MyGov or Business Portal (even where you don’t have one yet).
Accordingly, we recommend all clients setup the following as soon as possible…. If you already have them, please check the details are all up to date and correct.
Action required by you:
- Setup your my MyGov account . If you have one already, check your contact details are correct.
- If you are running a business, setup your Business Portal: https://www.ato.gov.au/Business/Bus/Set-up-your-new-access-to-the-Business-Portal/ If you have one already, check your contact details are correct.
- Setup a Business Portal for all your entities, even non-business entities like “Bucket Companies” or Investment Trusts.
- Importantly, diarise to regularly check the portals for Business Activity Statements, Instalment Activity Statements, correspondence and debts due for payment.
Holmans anticipate that within the next few years, maybe sooner, all correspondence will be via your MyGov account. It is that important.
That does not mean Holmans will not have access to your documentation or be able to liaise with the ATO on your behalf about important taxation matters. It only means you will receive the documentation first and securely.
It also allows you to personally check debts owed, obtain BPAY details/Payment Slips, complete Business Activity Statements online directly should you need to.