From November 13, 2023, to better assist our clients with Single Touch Payroll (STP) or Business Activity Statement (BAS) work, the ATO are introducing new requirements. If you are not already on our client list, you will be required to complete the Tax Agent Nomination process. This is a consistent requirement across all types of entities that have an Australian Business Number (ABN), with the exception of sole traders.

The requirement includes a wide range of entity types:

  • Companies (including strata title bodies)
  • Partnerships
  • Trusts
  • Not-for-profit organisations
  • Joint ventures
  • Cooperatives
  • Self-managed super funds (SMSFs)
  • APRA-regulated superannuation funds.

Sectors that have already implemented the agent nomination process for include:

  • Public and multinational businesses who are part of the Top 100 and Top 1,000, as of June 19, 2022.
  • Most public and multinational businesses, effective from December 13, 2022.
  • Businesses in our Top 500 privately-owned wealthy groups, where that group has a significant level of ownership, effective from December 13, 2022.
  • Government entities, effective from February 24, 2023.

Please note this new requirement currently does not apply to individual taxpayers or sole traders.

When is it necessary to complete the nomination process?

The agent nomination process needs to be completed only if you fall under the new requirement, and you are either:

  • Engaging a new registered tax or BAS agent or payroll service provider to represent you.
  • Changing the authorisation of an existing agent (for instance, they start representing you for a new obligation such as income tax or a new entity in your group).

If you are already represented by a registered agent and there are no changes in your representation, you are not required to do anything.

Need more information? Contact us at [email protected]