As the ATO takes an increasingly stringent stance on debt, accountants and tax agents need to be more proactive than ever. With the ATO strongly enforcing tax debt there will be a rise in the number of credit referrals and Director Penalty Notices (DPN). Keeping abreast of all correspondence from the ATO is crucial in ensuring you and your clients are well-prepared to manage any challenges.
Why the Urgency?
The ATO’s rigorous approach to debt recovery and the issuance of Director Penalty Notices (DPN) is to ensure businesses and directors remain compliant. The ATO is taking firm action with those not complying and failing to meet these obligations that will have significant repercussions. At the recent Tax Institute Summit the ATO Commissioner Chris Jordan was “unapologetic” about the ATO’s tougher stance on collectable debt and asked for tax professionals to help.*
Client Obligations: Keeping Them Informed and Compliant
The importance of clear communication with clients about their obligations is paramount. It’s not just about reminding them of their obligations but also equipping them with the right tools and information to manage their finances better. This includes:
Understanding Digital Instalment Notices: These digital instalment notices aren’t available to clients via myGov or any other platform, these are only available to tax agents and accountants. Are you passing these documents on effectively to your clients?
Potential Risks: If you are not managing ATO correspondence effectively and efficiently (including digital instalment notices) then clients may miss out on important notifications, and this may lead to them not paying the ATO on time.
Navigating MyGov
When your clients have a myGov account it means you, the accountant, no longer receive their ATO documents and will not be in the loop. The challenge is, clients may not be regularly accessing their myGov account, therefore they only contact you to help them when debt is being chased.
Proactive Management and Communication
You need to stay ahead of the game and lean towards a proactive approach. If you’re proactively communicating all ATO correspondence to your client there’s less risk of client’s missing out on receiving important ATO documents. Bills are paid on time, and you’re paid on time.
ATOmate for effective ATO Correspondence Communication
ATOmate is changing the way accountants handle ATO correspondence and client communication. ATOmate is designed to:
- Bridge the communication gap, ensuring ATO correspondence is captured, processed, and actioned in one place.
- Never miss PAYG instalment notices.
- Simplify client communication with templates to keep clients informed, hearing from you first.
- Maintain control over ATO-related communications, offering clients a streamlined, transparent, and efficient experience, reinforcing trust and reliability.
If you’re taking a proactive approach by keeping your clients informed and sending them their ATO documents, your clients should not receive debt or penalty notices. They’re aware of their obligations and can pay on time.
Take Action
Get on top of ATO correspondence in your accounting practice. Discover the full potential of what ATOmate can bring to your firm. Book an ATOmate discovery call today and navigate the world of ATO communications with confidence and ease.
Click here to book your discovery call
With over 25 years of experience in the technology industry, Stan’s professional focus has been on building high-performance teams and leading organisational change through operational efficiency.
Stan is passionate about assisting businesses to reach their full potential through the delivery of automated processes, supporting them to achieve smarter and innovative outcomes for stakeholders and greater productivity and job satisfaction across their teams.
Most recently, Stan has enjoyed working closely with professional services businesses to implement technological transformation projects and automate their key business processes.
BAW is an innovative company that provides automation solutions to businesses including accountants, property managers and the manufacturing industry.
The company’s automation solutions allow business managers, partners, IT managers and staff to refocus their attention away from tedious, time-consuming tasks towards value-added outcomes, such as managing and maintaining client relationships and engagement.
BAW’s flagship product, ATOmate, is designed to automate the processing, reviewing, and distribution of ATO correspondence. ATOmate integrates with a range of market-leading practice and document management platforms, helping accountants reduce their ATO document processing time by 90%.
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- Take Time to Simplify Your Processes and Ease Your Workload - 27 November 2023
- Personalised communication is key to client satisfaction and engagement - 1 November 2023
