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 providing 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 Luxury Car Tax (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
i. Be fit and proper
ii. Have minimum formal qualifications (e.g. Cert IV Financial Services (Bookkeeping)
iii. Continue to have sufficient, ongoing, continual relevant experience iv. Have an appropriate level of Professional Indemnity Insurance
v. Undergo continuing professional education vi. Maintain professionalism in accordance with at least the statutory code of conduct
Adherence with the code of conduct reinforces the concepts of:
i. Honesty & integrity (including when acting for you in relation to your money)
ii. Independence (including always acting in your best interests)
iii. Confidentiality (unless you direct us otherwise, your information is totally confidential)
iv. We provide service competently using knowledge and skills to take “reasonable carer” to ensure that tax law is applied correctly for you
v. Advising you about your obligations under the relevant tax laws
As a BAS agent we do not advise you nor liaise with the tax office on Income Tax Matters. This is a role of a registered Tax Agent. We will work with your accountant and income tax advisors when income tax matters impact on BAS Service parts of your business. Such things as; reportable Fringe Benefits Tax Amounts, or Reportable Superannuation Contributions on your end of year Payroll Payment summaries. Such things as; the Tax deductibility of entertainment of other items, where your ability to claim back GST depends on the tax agents treatment of those items for your tax return.
As a BAS agent and as a Professional ICB member we are committed to providing you with an expert service and expert advice.
A BAS Agent is issued a licence that says they can:
Advise a client, provide certainty to a client or represent that client to the tax office in relation to:
* All GST matters
* All Wine Tax, Fuel Tax, Luxury Car Tax matters * Payment of FBT
* All aspects of Payroll that relate to the withholding of tax amounts and the reporting of that amount to the employee and the Tax office
* All aspects of other PAYG Withholding amounts: i.e. no ABN, Interest & Dividend
* All aspects of the payment of income tax via PAYG Instalments A Tax Agent can also do these and then other areas of tax also.
What does this mean?
A registered Agent may:
* Design and set up compliance systems
* Advise the client on how the above areas of law affect them
* Review a client's operations in relation to these areas of law and provide certainty to that client that they are getting it right.
These tasks cannot be done by a bookkeeper who is not a registered Agent.
So, what can a Bookkeeper do who is not a BAS Agent?
* They can follow systems designed by others * They can process
* They can reconcile and produce results but not if the client is relying on those, without further action to be certain that they are meeting their obligations
* They should raise questions and not answer them
A BAS Agent can be a business with one or more qualified persons (registered BAS Agent/s) and others working, performing BAS Services, being supervised and controlled by the qualified person.
This is legal!