Category Archives for BAS

What it means to be a BAS Agent

The term ‘BAS Agent’ typically applies to a business who contracts to a client to provide services to that client to do with their BAS obligations.

The new legislation was implemented with a view to provide business with protection and security. It is about the qualifications, experience, competence, professionalism of us as an external person being relied on to assist you with the obligations of GST, PAYG Withholding (payroll), PAYG Instalment Payments, FBT Payments, WET, Fuel Tax and LCT.

My registration as a BAS Agent can be checked at www.tpb.gov.au.

Only registered BAS Agents (and Tax Agents) are permitted to advise or help you ‘ascertain’ (determine, establish, discover, make certain) your liabilities obligations or entitlements of the areas of the BAS. Only registered Agents (other than yourself or your employees) are permitted to represent you in dealing with the ATO.

By being a BAS Agent I/We must:

  • be fit and proper
  • have a minimum formal qualifications (eg Cert IV Bookkeeping)
  • continue to have sufficient, ongoing, continual relevant experience
  • have an appropriate level of Professional Indemnity Insurance
  • undergo continuing professional education
  • maintain professionalism in accordance with at least the statutory code of conduct

Adherence with the code of conduct reinforces the concepts of:

  • Honesty & Integrity (including when acting for you in relation to your money)
  • Independence (including always acting in your best interests)
  • Confidentiality (unless you direct us otherwise, your information is totally confidential)
  • We provide service competently using knowledge and skills to take ‘reasonable care’ to ensure the tax law is applied correctly for you
  •  Advising you about your obligations under the relevant tax laws

 

It’s BAS Time Again

AARRRGHHHWould you hire an unregistered plumber? How about an unregistered electrician?  You wouldn’t, right? Then why would you risk using an unregistered BAS agent?

It’s  BAS time again. Understandably, many people hate BAS time. Every three months seems to come around far too quickly. But since you can’t escape it, you might as well do it properly.

Many businesses have no idea that using an unregistered practitioner could be to their own peril and may result in hefty penalties. TASA is here to protect the public from risks associated with dealing with unqualified or unskilled BAS providers.

BAS services must be provided by registered practitioners. However, it is interesting to learn that there are only 14,000 registered professionals servicing Australian businesses and yet, there are more that 2.4 million businesses in Australia. Clearly, it is inevitable for Australian businesses to engage the services of unregistered people. There simply aren’t enough registered BAS agents.

However, we are hoping that encouraging small business operators to deal only with registered agents will force more providers to come within the regulatory environment and fill the obvious gap.

So are you a business owner? Then save yourself from the unnecessary risk with this simple question – ‘Are you a registered BAS agent?

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