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The Australian Taxation Office (ATO) is encouraging all SMSFs to move away from paper records and lodge their fund activities digitally. Not only is online lodgement more secure, but it comes with additional benefits, including: * an extra two weeks to lodge * fewer errors * faster refunds * simpler record keeping The ATO’s ‘online service for business’ enables SMSFs to lodge forms, update fund details and request advice – from one secure platform. Approved SMSF auditors can also gain access to tools for submitting reports and audit confirmations. While SMSFs can’t yet lodge their annual returns online, they can amend errors and view their lodgement history with ease. Furthermore, the ATO says SMSF trustees can use the online service to view their accounts and make payment plans as well as update addresses, contact details and financial institution details.
#accountant #tax #SMSF |