The term ‘BAS Agent’ typically applies to a business that contracts to a client to provide services to that client to do with their BAS obligations.
The new legislation was implemented to provide business with protection and security. It is about our qualifications, experience, competence, professionalism as an external supplier being relied upon to assist you with the obligations of GST, PAYG Withholding (payroll), PAYG Instalment Payments, FBT Payments, WET, Fuel tax & LCT.
Only registered BAS Agents (and Tax Agents) are permitted to advise or help you determine your liabilities, obligations or entitlements in 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 minimal formal qualifications (e.g. 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 to the code of conduct reinforces the concept 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 this service competently using knowledge and skills to take ‘reasonable care’ to ensure that tax law is applied correctly for you.
As a BAS Agent, we do not advise you nor liaise with the Tax Office on Income Tax Matters. This is the role of a Registered Tax Agent. We will work with your accountant and income tax advisors when income tax matters impact on the BAS Service parts of your business.
As a BAS Agent and as a professional ICB member, we are committed to providing you with both expert service and advice. My registration as a BAS Agent can be checked at www.tpb.gov.au