What are the benefits of using a BAS agent?
There are numerous businesses in Australia whose owners don’t have the time or knowledge to manager their own books and complete their own BAS but are not big enough to employ a bookkeeper - this is where freelance BAS agents can assist.
Get the Right Advice on GST, Tax and Super
96% of Australian small businesses rely on a Tax or BAS Agent to help manage their tax and super affairs. We work together with the tax profession to assist small businesses maximise their benefits within the law. It is also common for businesses to have reduced tax management fees from their accountant if an experienced bookkeeper has maintained their accounts.
Reconciliations
To make sure your BAS is correct, every quarter you need to reconcile the GST, PAYG, wages payable, super payable, wages expense, super expense and ATO integrated client accounts. As a BAS Agent with more than 20 years experience, Annette is highly skilled in ensuring your books are accurately reconciled.
More time to lodge
If you lodge your own BAS then you have to lodge and pay by the due date. Under the BAS lodgement program a BAS Agent gets extra time to lodge, so you have more time too. Plus, if you are late with BAS reporting and payments already, hiring an agents shows the ATO you’re serious about catching up.
BAS Agent registration requirements
Your BAS Agent needs minimum qualifications, 1400 hours experience, a Cert IV in bookkeeping, PI insurance, a professional membership and ongoing study.
Ongoing study
For 45 hours every three years your BAS Agent studies and learns complex topics, updates to the GST and tax laws, and industry changes so they can stay registered. And so you don’t have to.
Security
All BAS agents are required to maintain professional indemnity insurance through which consumer’s have protection. If you lodge your own BAS you can easily make mistakes, and you can even be charged fines. A BAS Agent is also covered by the Safe Harbor laws, adding an extra level of protection for your business.
Code of conduct
The Code of Conduct requires your BAS Agent to be professional, honest, independent, confidential and competent. If a BAS agent breaches the code you can call the Tax Practitioners Board.
Did you know?
Only registered agents can charge a fee for providing tax or BAS services.
Tax or BAS Agents need to be registered with the Tax Practitioners Board (TPB).
If you use a bookkeeper to prepare your BAS, they must be registered with the TPB unless they are your employee or work for a registered agent.
To check if an agent is registered, just enter their details in the TPB register or look for the registered practitioner symbol.