Five steps to go digital in 2023

A new year brings the possibility of doing things differently. Did you know that many small businesses are reaping the rewards of going digital?

At the ATO we’re moving towards digital options for tax, super and employer systems and obligations.

Here are some steps you could take now to start on your digital journey in 2023.

One: Register for our online services

ATO Online services allow you to access a range of tax and super services in one place.

ATO online services for individuals and sole traders and Online services for business are available now.

You can check due dates, lodge your activity statements and keep track of your super online. You can easily update your details and, if you are using ATO online services for individuals and sole traders, you can lodge your tax returns.

The ATO online services are convenient, secure and available at any time.

Two: Try out the ATO app

The ATO app is free and particularly helpful if you’re a sole trader. You can use our ATO app to:

• record your business income
• record and manage car trips and other expenses on the go
• keep track of your deductions in the myDeductions tool
• use the information to pre-fill your tax return
• send your tax return information to a tax professional.

Three: Make payments electronically

There are many ways to make payments to us including BPAY, debit and credit cards, through our online services and using the Government’s Easy Pay system.

We’ll always work with you, but we are moving away from cheques and encourage you to pay electronically. Paying electronically saves you time and is processed on your account much faster.

Four: Find out about software solutions

Do you know about the options for eInvoicing or the benefits of Single Touch Payroll? To help you on your digital journey, you could also investigate how a software package could help with your business.

You don’t need to change everything at once, you can start with one area that you think will most help your business.

There’s software to help with many business activities, for example you can:

• record sales, refunds and exchanges
• track and manage stock and orders
• produce invoices and receipts
• manage payroll
• do budgets or forecast your cash flow
• get regular reports.

Five: Check your security

These days online security needs to be top of mind.

The ATO take the security and privacy of your personal information very seriously. ATO has systems in place to make sure your data and any online transactions with us are secure and safe.

Taking your business digital can increase the risk of scams and security threats.

There are steps you can take to help protect your business from cyber threats.

There are many advantages to digital record keeping and business systems. A registered tax or BAS agent can advise you about tools available to help you in your business and to meet your tax, super and employer obligations safely and more efficiently.

Source: ATO