Registered BAS Agent
[Health-check] As of March 1st 2010 the ATO regulated the bookkeeping industry. Now, all bookkeepers providing a BAS Service are required to register as a BAS Agent.
The requirements of a BAS Agent are:
Certificate iv in Financial Services – Bookkeeping or Accounting
Member of a recognised Professional Association
Over 1000 hours relevant experience
Professional Indemnity insurance
Ongoing Professional Development
What does that mean for you?
In the past, a bookkeeper was able to complete a MYOB or Quicken course and start charging for their services. Unfortunately, due to their lack of experience, they often left a mess. The client could do nothing about it except find someone else who, hopefully, would be able to clean up the mess. It is a costly exercise both financially and emotionally.
As a BAS Agent there is a professional Code of Conduct in relation to:
Honesty and integrity
Independence (acting lawfully)
Breaching the Code of Conduct can result in termination of the registration and Civil Penalties involving fines up to $137,500. At last there is something that can be done if you are left in a mess.
Once I have completed by Certificate IV in Accounting I will become BAS Registered. I believe that great bookkeeping is not just about getting the compliance right… it’s about empowering you around your finances!
Being tax agents & accountants we know what the ATO needs and when; and we make sure your deadlines are met every time.
[Tick] Extended due dates for lodgement and payment of your GST.
Not only will we be able to prepare your BAS statements but, as tax agents, we can lodge your BAS electronically with the ATO. Being our client means your BAS due dates are extended automatically as long as we lodge BAS’s for you.
[Tick] GST Audits & ATO Communication
Have you recently purchased new equipment? Paid a franchise fee? Bought a car? You may be entitled to a large GST refund which could result in an audit from the ATO under their current audit program. We are able to take responsibility in dealing with the ATO on your behalf and can provide them with all the necessary paperwork to get the audit cleared.
As accountants, we are always up to date with GST legislation so you never have to worry about claiming or paying GST incorrectly.
[Tick] How much GST do I need to keep aside?
If you lodge your BAS quarterly, we can help avoid some of the unexpected pain that comes with paying 3 months worth of GST in one batch by letting you know how much to set aside each month towards the liability. Don’t get caught short when it comes time to pay your GST!