What does it mean to be a bas agent?

MINIMUM BAS AGENT REQUIREMENTS

In order for a bookkeeper to submit an application with the Tax Practitioners Board, and become a Registered BAS Agent, they must first meet the following criteria;

QUALIFICATIONS

A minimum of a Cert IV in Financial Services (Bookkeeping or Accounting).

EXPERIENCE

1,000 hours supervised experience lodging BAS during the past four years.

INSURANCE

Minimum of $1,000,000 professional indemnity insurance.

PROFESSIONAL MEMBERSHIP

Membership with at least one professional bookkeeping or accounting body.

PROFESSIONAL DEVELOPMENT

Maintaining knowledge and skills, taking relevant courses and keeping up to date with laws.

PROFESSIONAL CODE OF CONDUCT

We are under a Code of Conduct. Breaches can mean up to $137,500 in fines and penalties. Or even loss of registration. The code covers five areas;

HONESTY AND INTEGRITY

Acting honestly, complying with taxation laws personally, trustworthy dealing with money.

INDEPENDENCE

Acting in the best interest of the client and management of conflict of interest that may arise.

CONFIDENTIALITY

Not disclosing information to a third party without client’s permission or legal duty to do so.

COMPETENCE

Taking reasonable care to ascertain client state of affairs and correctly apply GST and taxation laws.

OTHER

Timeliness, professional indemnity insurance, and correct administration of laws.

LOOK FOR THE REGISTERED BAS AGENT SYMBOL

As of 1 March 2010 the ATO regulated the bookkeeping industry. As a result, all bookkeepers providing a BAS Service must register.

WHAT DOES THAT MEAN FOR YOU?

In the past, a bookkeeper could do a software course and start charging for their services. Due to their lack of experience, they often left a mess. As a result, the client could do nothing apart from finding someone else to fix it. This can be expensive and emotionally draining.

Bookkeeping payroll and BAS Maclean Yamba Iluka
Close Menu