After consulting with industry, the ATO confirmed tax agents are set to have the same view that individuals currently have in accessing ATO Online via their myGov account.
An ATO spokesperson said this service will only be for registered tax agents – it will not be available for financial planners.
At this stage, this will become available towards the end of 2018.
SMSF Adviser understands the new service is view-only, meaning it will not provide tax agents with the ability to enact rollover or consolidation requests on behalf of their clients.
katarina.taurian@momentummedia.com.au
I expect it will only be if you are the tax agent for the individual. If you are the tax agent for the SMSF only, then the same issues will exist.
If a client wants their adviser to provide advice, they’ll just hand over their log in details!
Just another example of how dumb ideas evolve!
Accountants need this information (ie TSB) to determine how to prepare accounts for an SMSF
God forbid that registered tax agents be able to access information from the ATO.
That just seems like another opportunity for accountants to offer more unlicensed ‘advice’. ASIC is on one side trying to stamp out unlicensed advice & on the other side we have the ATO facilitating unlicensed advice. Never let it be said that the different arms of government dont work together….