Beyond filing taxes on time, dealing with the Australian Taxation Office (ATO) is also about being aware of how the ATO communicates with you, and under which circumstances. Most communication has gone online, and the taxpayers need to understand where to look, what to look for, and how to make sure it is addressed in a timely manner.
As an individual, sole trader and business owner, not attending to a digital message sent by the ATO may result in not meeting a deadline, facing a penalty or unnecessarily worrying.
This guide outlines how to approach ATO correspondence within the digital world best, how to establish the correct systems, how to remain vigilant of scams, and how and when to get expert assistance from a tax accountant.
The ATO is probably one of the most significant government authorities Australians come into contact with. It takes care of the personal income tax returns as well as complicated business taxation concerns. Missing a notice or not acting in time as part of a request results in serious consequences, including fines, penalties and even audit or legal suit.
With digital communication comes efficiency, though it does cause a shift in responsibility. You can no longer say you have never received a letter when notifications have plenty of unread messages in your myGov inbox. Proper communication in ATO can be helpful to make sure:
Going digital is no longer an option; it is the norm. It is therefore critical to be informed.
Mostly in recent years, the ATO has shifted most of the correspondence to digital platforms, particularly for individuals and small businesses. This includes:
These are all usually posted through your myGov inbox, which is connected to the ATO portal. As a consequence of this change, physical mail is hardly ever sent, and email or SMS notifications are merely reminders-they are not the actual message.
In order to view these online messages, people need to open a myGov account and connect it to the ATO. The primary means available to businesses is the ATO Business Portal (currently under Online Services for Business).
In order to receive ATO messages, you have to connect your myGov account. Here’s how:
When connected, any communication ATO sends will go to your myGov inbox. This also involves notifications about the tax return Australia, superannuation, and compliance checks. Remember:
Online Services Business provides communication to business owners and replaces the previous Business Portal. The ATO Tax Agent Portal is also used by registered tax or BAS agents. Businesses can:
Having a BAS accountant or a registered tax accountant Perth will be a more efficient way to deal with these communications, especially when you are trying to handle payroll, meet compliance requirements and keep the day-to-day operations running.
When your business uses the services of a BAS accountant, be sure to establish appropriate authorisation. You can only be represented using correspondence or have documents filed by authorised agents.
Unluckily, the advent of the digital age has also given birth to ATO-related scammers. These may be:
In order to be safe:
Don’t follow links, divulge sensitive information over the phone unless you are sure who you are dealing with.
Hiring a tax return accountant or accountant in Perth who has ATO experience can be priceless when avoiding scams and safeguarding your data.
Among the most effortless methods of dealing with ATO correspondence is through the use of a registered tax agent or business tax accountant. They may act on your behalf and receive most ATO correspondence when authorised and alert you to actions required.
Pros of a tax agent:
But you remain liable to your taxes. It is essential always to make sure that your agent is registered with the Tax Practitioners Board (TPB) and your contact details should be up to date.
In order to remain organised and compliant, refer to these best practices of digital communication:
Taking these tips to heart, you will save yourself tax audits, deadlines, and unpaid penalties.
The most organised taxpayers can even overlook ATO messages. In case it occurs:
Do not overlook ATO mail, even automatic. The result of silence can be terrible.
With government communication becoming more digitalised than ever, effectively dealing with ATO correspondence is of greater importance today than it was in the past. The decision to switch to online applications, such as myGov and Online Services for Business, ensures convenience, yet it also brings responsibility.
Whenever making a personal tax return in Australia or when doing BAS quarterly returns, you need to work with professionals such as a tax accountant or a BAS agent. This assists in ensuring compliance, complying with deadlines and enables you to develop on a financial aspect instead of mere management.