This Tax Time will herald a new wave of change. myGov will change the way you interact with the ATO this year more than any year since it’s inception.
myGov is a secure way to access online government agencies including Medicare, Centrelink and the ATO.
By linking the government agencies you currently use in the one portal you can access and update information in real time. Linking the ATO in the past few years has mainly been used if you lodge your tax yourself. Now with the introduction of Single Touch Payroll (STP) thousands more Australian’s will be forced to activate their myGov account to see their Payment Summary information.
If you work for an large employer, they are now required to lodge your salary and wages via STP every pay run, and therefore eliminates the need to issue you with a Payment Summary at Tax Time. If you use a Tax Agent, they will have access to the information as well, and can access during your Tax Appointment.
There are other good reasons to activate your account, including being able to check your super contributions and balance. All correspondence from the ATO will be streamed to your myGov account once open so it’s also important to check the inbox regularly.
Everything with the ATO is going electronic and online. By Tax Time 2020 all Australians employed will have their wages reported via STP. Even Tax Agents will be using their own myGov to act as Agents.
The future is here, and it is online. Activate your myGov account today and link the ATO ready for Tax Time 2019!