We offer different options for businesses that provide tax agent services to their clients however the option of who acts as tax agent is dependent on the number of SMSFs we will be administering on your behalf.
Intello as tax agent
This is the default arrangement for financial advice businesses or any business utilising our services with less than 100 SMSFs.
We will be appointed as tax agent on all SMSFs we administer on your behalf and take care of all lodgement obligation including annual returns, activity statements and event based reporting.
The following is for accounting firms or combined accounting / financial planning businesses:
Your business as tax agent (BYO tax agent)
This option is available when a business utilising our services meets all the following criteria:
- The business is registered with the Tax Practitioners Board (i.e. accounting or combined financial planning / accounting firm)
- We will be taking care of the administration of more than 100 SMSFs on your behalf
- A branch registration is used for all SMSFs we administer on your behalf
Tax Agent Sub-Branch Registration
Setting up a tax agent sub-branch registration is a simple process for an existing tax agent (business) and doesn't incur any additional upfront or ongoing costs. The entire process should take 3-4 weeks maximum.
By moving SMSFs we administer to a sub-branch of you tax agent registration we achieve the following benefits and efficiencies:
- You clients will continue to see your name and the name of your firm on the SMSF annual returns
- As tax agent you maintain ultimate control and visibility across your SMSF clients and you determine what gets lodged on the SMSF annual return
- Our team can be issued with AUSKEYS for the sub-branch meaning we can access all necessary reports, lodgement details and communicate with the ATO without needing to involve your team
- Our team will ONLY see the clients we administer - we will have no visibility on the remainder of your clients
- You and your team retain have full visibility of your clients and can contact and liaise with the ATO as normal (although by utilising our services we take care of all ATO related matters on your behalf)
- Our team will move the SMSFs we are administering to the sub-branch on your behalf and also under take a 'health check' to ensure all addresses, contact details and associates of the SMSF clients are accurate and up to date.
It is also technically possible for your existing 'primary' tax agent registration to be utilised (rather than a separate sub-branch) we have found this to be very inefficient as it requires additional work by your team to provide us with relevant information regarding your clients (i.e. income tax and integrated client account reports) whenever we need them.
Please see the email template here and below to commence the your tax agent sub-branch registration.
Registration and Set-up Process
Once the TPB issues the sub-branch tax agent number, we will assist you to undertake the following:
- Register for ELS via the ATO
- Register for an AUSKEY via ABR
- We also recommend your Intello Relationship Manager be appointed as an AUSKEY administrator for this sub-branch
- AUSKEY administrator to register all appropriate team members (yours and ours)
- Register and enable Class Super as an SBR software service via the ATO's Access Manager
- Applicable SMSF clients we administer moved to the new sub-branch and health-check undertaken by our team to ensure all details are accurate
Once the above is completed we will test and confirm that we have the ability to lodge SMSF annual return as well as activity statements (via SBR).