ATO – Australia’s Primary Tax Collection Agency

The Australian Taxation Office, or ATO, is the government’s main revenue collection organization. Its responsibilities include revenue collection, superannuation legislation, and implementing the federal taxation system. 

This article outlines the Australian Taxation Agency’s overview, services, and how it aims to become Australia’s leading revenue collection agency.

ATO History

ATO has a history that dates back to 1910 when the Labor Andrew Fisher government took charge of the federal office. They introduced many federal tax laws, such as the Land Tax Act 1910, to unify tax collections across Australia. Earlier, the six Australian societies had tax structures that lacked equity. 

Under the Land Tax Act 1910, a representative of Property Taxation was selected to oversee the administration and hold charge of the office. The office was founded on November 11, 1910. It was initially named Federal Taxation Office but now is the present-day Australian Taxation Office.

Overview

The Australian Taxation Office is currently headquartered in Canberra, Australia. It functions under the Public Governance and Accountability Act 2013. It is responsible under the 1999 Public Service Act.

Chris Jordan, the current Commissioner of Taxation and Administrator of the Australian Business Register, has been overlooking the office since 2013. The Minister responsible for the taxation office is Dr. Jim Chalmers (treasurer), and the Deputy Minister, Stephen Jones (assistant treasurer).

The Treasury oversees and manages the operations of the ATO. It is the prime government agency responsible for collecting income tax, GST, and other federal taxes. Moreover, the agency also offers the Higher Education Loan Program and manages the Australian Business Register (ABR).

Services

The Australian Taxation Office offers multiple state-of-the-art services to help increase customers’ confidence in Australian tax organizations. It allows people to recognize their rights and help them in becoming responsible taxpaying citizens. It offers the following top-notch services under Online Services.

Business Portal

The most exceptional service is ATO Business Portal. However, the business portal has been replaced with Online Services that offer efficient service. It allows businesses to manage business reporting and transactions on time and with ease.

Large-scale businesses, organizations, and auditors with self-managed superannuation funds (SMSF) can use the business portal. Sole traders and individuals must register and log in with myGov ID to access the portal. 

To access the portal, businesses must first register with myGov and link their business to the Relationship Authorization Manager (RAM). By using the ATO portal, companies can:

• Prepare and lodge taxable payments annual report.
• Create multiple payment plans easily.
• Find the payment reference number (PRN).
• Update tax registration details.
• Pay Goods and Services Tax (GST) easily.

Individuals can use the ATO online service to:

• Update their Tax File Number (TFN) details.
• Edit and maintain credit card details.
• Get commencement forms for withholding declaration, tax file number declaration, etc.
• View their Australian Business Number (ABN) and additional tax information

myTax

The best service that the Australian Tax Agency offers is myTax, an ATO tax agent portal that offers fast, secure, and seamless reporting. Individuals can lodge their tax returns by using myTax. 

In addition, it allows individuals to

• Lodge their tax return from 2016 and onwards easily.
• Print their tax returns and send non-lodgment advice to the agency.
• Get their refunds within two weeks.
• Access the portal 24/7.
• Receive the lodgment receipt by email to confirm successful lodgment.

Online Services for Agents

Tax agents can also benefit greatly from Online Services for Agents (OSfA) offered by ATO. By using OSfA, agents can:

• View, edit, and update clients’ details.
• Prepare client’s activity statements.
• Make payment plans and view payment options.
• Download client files easily.

Standard Business Reporting

Standard business reporting (SBR) allows businesses to report their business records to the government correctly and securely. SBR has many benefits for the businesses, such as:

• Offers seamless record keeping.
• Performs administrative duties to help you focus on clients.
• Prepares business reports automatically.
• Reviews reports and allows you to check for any errors.

AUSid

AUSid is a portal for non-residents who want to pay simplified GSTs and income taxes for their properties and business. Individuals who are importing goods for consumers in Australia need to pay simplified GSTs. AUSid comes under Online Services for Non-Residents and allows offshore individuals to lodge their taxes. 

elnvoicing Week

ATO recently celebrated the latest digital invoicing procedure. elnvoicing is a countrywide digital advancement. It is an automated process which means you can save time, and the chances of human error will also be less.

FAQs

Let’s have a look at some of the frequently asked questions about the Australian Taxation Agency to provide you with added information.

1. How do I link ATO to myGov?

You can link ATO to myGov by following the below-mentioned steps

-First login to your myGov account

-After logging in, click the services tab on the homepage of myGov.

-Then select Australian Taxation Office.

-Select the relevant questions and give answers to two questions asking for information on your          

 tax record.

1. What is ATO online?

ATO online services can be used to manage super dealings, tax affairs, and access information on a single platform. You can utilize the online services after you have linked your myGov account to ATO. It can then be used to manage your private particulars, like updating your bank account details and address.

1. Can you get ATO linking code online?

If you are new to tax and require information, you can simply call the agency, which will provide you with a link.

1. Does the Australian tax Office call you?

The agency will never send pre-recorded, unwanted messages to you. You should hang up the phone if you receive calls like these. Do not provide your private information under any circumstances. If you are unsure about the authenticity of the call, you can contact the agency at 1800 008 540 to check.

1. Does ATO use robocalls?

Spammers posing as agents or other government agencies contact you. They will threaten you with an arrest and force you to give them your private details.

To conclude, ATO has been providing excellent tax collection services since its inauguration in 1910. The Gold Award was presented in Prime Minister’s Honours for Excellence in Civic Sector Management in 2016. 

That is all about the Australian Taxation Office for now. You can visit our website, The Australian Time if you are interested in reading technology, business, science, travelling, and history-related articles.