The ATO have recently changed their processes whereby they are no longer sending out PAYG notices via paper mail.
This means that you may miss notifications of tax payable for your SMSF.
The solution to be able to view and pay your PAYG tax payable on time is to add your SMSF to the ATO business portal.
This will allow you to receive notifications and also log in any time to view and pay any tax.
Please action the steps below to avoid missing ATO notifications regarding your SMSF.
Apart from contacting the ATO each quarter, this is the only way you will be able to view your PAYG notices and tax payable.
For those who have completed at least one tax return it is very important that you action these steps to check your PAYG status.
For those who have not completed a tax return as yet, please follow the steps below to be ready for the following year.
Here are the steps.
- You must have the mygovID app (if you do not have the mygovID app instructions are here)
- Your identity strength must be “strong”
- Go to this website – https://info.authorisationmanager.gov.au/
- Select on “Login with MyGovID”
- Select “Link your business” and “continue” if you are happy to do so.
- Enter your address and click continue
- Your Superfund with ABN should be shown in the list
- Click on the check box on the left and click continue
- Enter your email address and click send email
- Check your email for the verification code, enter it in the box and click “ verify”
- Once it shows verification is successful, click “ continue” down the bottom
- Click the checkbox that “I understand and accept this declaration” (if you are happy to) and click “submit”
- You have now successfully linked your SMSF.
- Go to www.ato.gov.au
- Click the “login as” dropdown box to select “business”
- Click “login”
- Click login on the next page – you will need your mygovID code to login
- Select your SMSF and click Next
- Select the “Communication” dropdown
- Select “Secure mail’
- Scroll down to the bottom of the page on the right and click “Notifications”
- Enter your preferred email in the “email address” box and click Save (This will ensure you receive an email notification whenever you have a message or something to action in your ATO portal.)
- Each quarter we will send a reminder to check your notifications and your PAYG to make payment if any tax payable.