BAS Agent Regulations

With regards to the new BAS Agent Regulations there are formal requirements to be met to become a BAS Agent.  The first is obtaining a proficient pass in the new Certificate IV (Bookkeeping) course.  The second is providing evidence of somewhere in the vicinity of 1400 hours of relevant BAS service over the past 3 years.

On 12 March 2009, the Tax Agents Services Bill was passed by Federal Parliament.  The Legislation establishes a national Tax Practitioners Board who will oversee and regulate the supply of BAS services to the general public.  It will require bookkeepers to apply to the Board for registration if they wish to continue to render BAS services to their clients. The new BAS Agent Regime will commence no later than nine months following the granting of Royal Assent to the Transitional Bill which will be put up for Parliamentary approval when Parliament resumes in late August.  It is anticipated that the new BAS Agent system could become effective around July 2010. (Australian Bookkeepers Network)

The New BAS Agent

It has been recognised that a portion of the business community relies on an external bookkeeper to assist with various aspects of the Business Activity Statement. Also it has been recognised that to properly, correctly and effectively assist business with preparation of their BAS that such "help" should be provided by people who are accredited to help.

The creation of the Registered BAS Agent seeks to provide protection to the consumer in that they can now know who is registered (accredited to a skill set and experience level) and can therefore be "relied upon" to assist them with the preparation of the BAS.

It will create a differentiation between bookkeepers who can be "relied upon" to assist with the preparation of the BAS, whom will be called "BAS Agents" and bookkeepers who may still provide bookkeeping services but are not able to be relied upon to provide assistance to a business client in respect to the actual completion and certification of the BAS.

What are the advantages of the new system?

BAS Agents become a more formalised and recognised part of the Tax Services industry; enabling ATO to provide enhanced services and assistance to BAS Agents.

Clients and/or consumers are being provided a level of "consumer protection" in that they can now know they can engage a BAS Agent to assist them whom has met the legislative requirements. (The Institute of Certified Bookkeepers)

Don't waste time! Get assistance with your bookkeeping -
contact us on 0408 081 838 or email us now