Welcome to SWOT Accountants’ Latest News Blog – Your Gateway to Seamless Financial Management! In this post, we’ll guide you through the essential steps of the Agent Nomination Process in Online Services for Business, ensuring heightened security and a streamlined experience.
About the Agent Nomination Process
The Agent Nomination Process is a critical requirement implemented to safeguard the privacy of your tax and super affairs. This ensures that only your authorized tax agent, BAS agent, or payroll service provider can access your accounts and act on your behalf. This process comes into play when there’s a change in agents or alterations to the authorisations given to your existing agent.
Why is the ATO Making This Change
The shift in the security and fraud landscape prompts us to enhance the process for how agents access your information. As instances of identity theft and fraud increase, we’re committed to strengthening the security of ATO online services. This change ensures that only your nominated agent can access your information and perform tasks on your behalf, such as lodging your tax return.
When to Complete the Nomination Process
Starting from 13 November 2023, the agent nomination process applies to all entities with an ABN, excluding sole traders and individual taxpayers. You need to complete this process if you’re engaging a new registered tax or BAS agent or changing the authorizations for your existing agent.
If you’re already represented by an agent and aren’t making any changes, no action is required on your part.
What You Need to Do
You need to nominate your registered agent in Online services for business before they can access your account and act on your behalf.
To nominate your registered agent and grant access to your account, follow the ATO user-friendly client-to-agent linking steps. These steps will guide you through the nomination process and assist in setting up Online Services for Business if you haven’t done so already.
Remember, your nominated agent can only access your information and perform tasks on your behalf after you’ve completed the agent nomination process through Online Services for Business.
Notifying Your Agent and Extending a Nomination
Once you’ve submitted your nomination, inform your nominated agent that they’re authorized to represent your business. The agent has 28 calendar days to add you as a client. You can use the Extend feature if more time is needed, adding another 28 days to your nomination.
Ensure timely communication with your agent, as they won’t receive an automated system notification about the nomination.
Further Information and Support
If you encounter any issues during the agent nomination process, contact the ATO on 13 28 66 for assistance. Your registered tax/BAS agent can’t do the agent nomination process on your behalf in online services. However, they can help you understand what to do.
Stay tuned for more updates and insights from SWOT Accountants as we continue to navigate the evolving landscape of financial management in Australia!
*Please note that the provided links are currently valid and active as of 27 November 2023. However, it’s important to note that the ATO reserves the right to modify the location of their web pages at their discretion.