Introducing MyGovID and RAM
AUSKey will be retired in March 2020 to make way for the new online services systems the ATO is developing, “MyGovID” and Relationship Authorisation Manager (RAM).
MyGovID is an authentication service that will allow individuals to prove who they are online. This system will work by establishing your identity once online and then using your myGovID credentials to access government services you need. MyGovID will feature facial recognition, ability to scan identity documents and options to add or remove multiple devices.
Relationship Authorisation Manager (RAM) is an authorisation service that allows you to link your myGovID to an ABN, managing authorisations across government services for businesses and their staff. RAM gives you the ability to add multiple businesses, access the business portal on behalf of multiple businesses, modify authorisations, customise and delegate the level of business authorisation for employees and nominate who can act on behalf of your practice.
MyGovID and RAM are currently available in a public beta. Eligible businesses can access the ATO Business Portal and it will soon be available through online services for agents. AUSKey can still be used to access online ATO services while myGovID and RAM are being developed.
The ATO advises that in preparation for the changes you check your ABN details are up-to- date in the Australian Business Register (ABR).
Using the margin scheme correctly
20th January 2020
The margin scheme is a way of working out the GST you must pay when selling property as part of your business. The amount of GST normally paid on a property sale is equal to one-eleventh of the... more
What are the tax implications of termination payments for employers?
13th January 2020
When making an employment termination payment (ETP), employers should be aware of the tax implications for different circumstances.
An ETP is a lump sum payment you make:
3 business service components your company strategy needs
8th January 2020
At the end of the day, it is every company's goal to find success in some capacity. Often that achievement is multi-pronged; businesses want both clients and employees to be happy, while also meeting... more