News

Agent client linking is coming to you!

The ATO is changing the way Tax and BAS agents can take over a client’s affairs for either tax, BAS or payroll from 13th November 2023,

 

Outlining the new procedure, the ATO said: “Businesses and organisations included in the process will need to nominate their agent before the agent can add them to their client list.”

“They will need to login to their ATO Online Services for Business and use the new agent nomination feature in when they:

  • Engage a new tax or BAS agent, or payroll service provider to represent them
  • Provide extra authorisation to their existing authorised agent (for example, the agent begins representing them for a new obligation, such as income tax or a new entity in their group).”

“After a client completes the agent nomination, the agents will have seven calendar days to add them to their client list in Online Services for Agents. The agent won’t get an automated notification advising that a client has completed the nomination. So, the client must notify the agent that the nomination has been completed.”

Director Penalty Notices

What is a director penalty

As a company director you become personally liable for your company’s unpaid amounts of:

These amounts that you are personally liable for are called director penalties. The ATO can recover the penalty amounts from you once they issue you a director penalty notice.

Director penalty notices

A Director penalty notice (DPN) is a notice the tax office must give you that allows them to recover the company’s unpaid amounts.  The notice outlines the unpaid amounts and remission options available to you.

The tax office can recover the amounts of the director penalty by:

  • issuing garnishee notices
  • offsetting any of your tax credits against the director penalties
  • initiating legal recovery proceedings against you to recover the director penalty.

If you are a current director, when the tax office gives you the DPN, they will use the address you registered with Australian Securities & Investment Commission (ASIC). Otherwise, they will use the address last known to them, therefore it is important you keep this address updated.

The date they post (or leave the DPN at the address registered with ASIC) is the date the notice is given to you.

If you receive a Director Penalty Notice, please contact your tax agent immediately.

Secure Jobs, Better Pay: Changes to Australian workplace laws

The Australian Government has passed the Fair Work Legislation Amendment (Secure Jobs, Better Pay) Act 2022. This legislation introduces new workplace laws and changes a range of existing rules.

Started 7th December 2022

Started 7th January 2023

Started 6th March 2023