myGovID to replace AUSkey
From the first of April 2020 the new myGovID will replace AUSkey and businesses will be required to use this myGovID to interact with the ATO.
The first thing to note is that myGovID is not connected with the existing myGov system. The use of a similar name is confusing but the new system is an improvement on the clunky and outdated AUSkey.
The two-step authentication used by myGovID will be familiar to users of accounting software platforms such as Xero and MYOB in that users will have to log in through an internet browser and then confirm their identity by entering a numerical code into their phone. The myGovID uses the fingerprint or face identification features of the phone to prevent unauthorised access to your account.
The setting up of the myGovID can be done online but will require users to download the myGovID app before then adding details from their passport and medicare cards to confirm their identity. Please note that the myGovID is unique for each individual user and businesses or entities do not have their own myGovIDs. However, individuals can use their myGovID to access records from multiple businesses or entities with the ATO if they have been appropriately linked or authorised to act on their behalf with the ATO.
Relationship Authorisation Manager
As mentioned, businesses will need to link authorised individuals to their ATO accounts. This is done through the Relationship Authorisation Manager (RAM) by the principal authority of the business. Eg. the business owner or company director. This part of the process is similar to how authorisations were maintained in the old AUSkey system. One tip when setting up authorised individuals through the RAM is to ensure that the individual’s name matches exactly their name used in setting up their myGovID. If the individual enters any middle names when setting up their myGovID, these middle names as well as the individual’s first name need to be entered into the single box provided for the individual’s first name.
Despite the confusing name, the new myGovID system is easier to use and compliments the work from anywhere reality of today.
Get in touch with us to find out more.