Business owners should be advised that the Business Portal available through the ATO will officially be retired as of July 31, 2021. The ATO has already launched their new Online Services for Businesses and encourages all business owners to begin using the new service for all transactions well ahead of the Business Portal retirement date of July 31, 2021.
The new Online Services for Businesses will provide necessary services for all tax and superannuation-related needs. The ATO says that the “improved technology means we can now offer you a better digital service experience including a range of new features… It’s been designed in collaboration with small businesses like yours, for small business”.
There are many advantages to this new offering; with Online Services for Business, the ATO advises that you can now:
- “organise a payment plan for amounts owing up to $100,000
- obtain copies of income tax returns
- manage multiple ABNs with a single login
- interact with us using secure-mail
- save time when lodging your BAS.
- You can log in easily and securely with your myGovID.”
It’s also important to note that the new service does not replace professional advisory services. Online Services for Business provides business owners with a modern and streamlined way to conduct regular interactions with the ATO; however, this does not replace the need for professional advice.
How can Halkin Business Partners help?
If you’d like to understand what the new service portal will provide, how to use it, and where your tax professional fits in with this offering, speak to one of our tax experts for more information.