Accounting For Good 2023 recap. As we move through December, it is timely to share two relevant articles with you. These two articles relate to handing over administrators for NFPs and the agent nomination process.
The ATO provides the handover checklist for not-for-profit administrators. It can be used when an organisation is changing the person in charge of its tax affairs – for example, a treasurer, office bearer, or employee involved in the tax administration of your organisation.
The ATO recommends that you arrange a meeting between the outgoing administrator and the incoming administrator to exchange information, documents and files and that the outgoing administrator provides their contact details in case the new administrator needs more information.
The complete checklist and recommendations can be viewed here on the ATO’s website.
The agent nomination process is a recent requirement aimed at ensuring that only your authorised tax agent, BAS agent, or payroll service provider has access to your accounts and can represent you in tax and super matters. This process specifically applies when you either change your agent or modify the authorisations granted to your existing agent. Accounting For Good is a registered BAS agent.
Effective from 13 November 2023, the agent nomination process will apply to all types of entities with ABNs, excluding sole traders, but including not-for-profits.
Before your registered agent can access your account and represent you, it’s essential to nominate them in Online Services for Business.
To nominate your agent, go through the client-to-agent linking steps provided. These steps will guide you through the nomination process and assist you in setting up Online Services for Business if you haven’t done that yet.
If you require assistance, feel free to reach out to the ATO at 13 28 66, or you can contact Accounting For Good. Please note that Accounting For Good cannot complete the agent nomination process on your behalf in Online Services. However, we can provide guidance on the necessary steps.
Accounting For Good will be closing for the end of year break at midday on Friday December 22nd and returning on Tuesday January 2nd, 2024.
We take the opportunity to wish our clients and staff a very happy holiday and a safe and fruitful New Year.
We extend a sincere thank you to everyone for their continued support. We look forward to a prosperous 2024.
If your not-for-profit needs comprehensive, compassionate and professional accounting services contact Accounting For Good today.
