NICK BRUINING: Why setting up a MyGov portal is easier than you think

For those that haven’t yet set up a MyGov access account, an amazing world of useful information and government services awaits you.

Information ranges from your medical history through to interactive services that allow you to claim a Centrelink pension or concession card.

All you need are a few common documents, an email address and about 20 minutes of your time. The process can be made easier, if you have a mobile phone handy.

MyGov is the Federal Government’s online access way, or “portal”, to most government services that have any type of interaction with the Australian community.

The list is vast and includes the Australian Taxation Office, Medicare, child support, My Aged Care and the National Disability Insurance Scheme.

Setting up a fully blown MyGov service is easier than you think.

Head to the my.gov.au website and follow the instructions to set up a new account. Never click an email link to this site, no matter where it comes from.

To ensure you’re not being scammed by a very good fake website, always type the name of the my.gov.au website into your browser.

Email verification and an SMS text or two, will have you with a basic account. From here, you link your account to the various government services and while they will all make similar requests, each will have their own unique requirements.

Some will want secondary ID like your passport or driver’s licence details. Never scan these documents and email them to anyone.

That’s another good indicator that scammers are working you over. Legitimate websites will sometimes get you to drag and drop a file or picture for uploading into the website’s servers.

One of the more popular and useful services within MyGov is with the ATO. From DIY tax returns to comparing the performance of your super fund with others, you can easily spend a lazy Sunday afternoon just on that site alone.

The easiest way to gain access to the ATO services is to grab a bank statement with a bank account that paid you interest, or the shareholder reference number for a company that paid you a dividend, and a recent ATO notice of assessment.

This is not the tax return your accountant may have prepared but the actual letter you received from the ATO, hopefully telling you about your refund, or much less fun, how much you owe.

Simply follow the prompts and answer the question and bingo, you will have instant access to all of the information.

As already explained, the superannuation tab reveals a vast array of specific information based on ATO records that you can use in the lead up to June 30.

If you have the Centrelink service connected to MyGov, you can apply for benefits and concession cards.

Existing Centrelink recipients can update financial information such as bank balances, share dividend reinvestments and notify Centrelink of employment income.

In the majority of cases, these updates will be processed overnight and you won’t need to do anything else.

Nick Bruining is an independent financial adviser and a member of the Certified Independent Financial Advisers Association