I love good software and hate paper so when I am changing processes some clients will say “But what does the ATO need” and the reality is NOT PAPER. The ATO has been digitising its operations for a while so let's have a little look at how many purely digital services the ATO has.
myGov Portal: The myGov portal is a central platform that provides taxpayers with a single login to access various government services, including the ATO. Taxpayers can link their myGov account to the ATO and conveniently manage their tax affairs online. From lodging tax returns to checking tax assessments and updating personal details, myGov simplifies the entire tax process and BAS process.
Single Touch Payroll (STP): STP is a game-changer for businesses, making the reporting of payroll information to the ATO simpler and more efficient. Employers now report their employees' tax and superannuation details directly to the ATO each pay cycle through digital channels. STP ensures real-time reporting, reducing the administrative burden and improving tax compliance.
Online Lodgment Services: Gone are the days of paper tax returns. The ATO now encourages taxpayers to lodge their tax returns electronically through the myTax platform. myTax offers a user-friendly interface that guides individuals through the tax lodgment process, ensuring that all relevant information is provided accurately.
Digital Communication: The ATO uses electronic communication channels to engage with taxpayers. These channels include emails, electronic notifications through the myGov inbox, and SMS messages for important reminders and updates. This digital communication ensures timely and secure delivery of crucial information to taxpayers. And if we are all lodging our returns online now the ATO does not expect you to keep the paper receipts
Business and Tax Agent Portals: For businesses and tax agents, the ATO offers dedicated online portals that provide a range of services. These portals allow businesses to manage their tax obligations, access payment plans, update business details, and more. Tax agents can access their clients' tax information and lodge returns on their behalf, streamlining the tax process.
Online Payment Options: The ATO provides various electronic payment options for taxpayers to settle their tax liabilities conveniently. Taxpayers can make payments through credit cards, BPAY, bank transfers, or via the ATO's online portal.
Digital Assistance and Tools: The ATO offers a range of digital tools and calculators to help taxpayers understand their tax obligations better. From the simple Tax withheld calculator to the more comprehensive Small Business Superannuation Clearing House, these tools assist individuals and businesses in making informed financial decisions.
The ATO's electronic transformation is a testament to its commitment to providing convenient and efficient services to taxpayers. By embracing digital technologies, the ATO has simplified tax processes, reduced paperwork, and improved tax compliance. So what are you doing with your paper?
As always get in touch if you want to have a chat about reducing you paper or any other bookkeeping processes
