We are registered BAS Agents that specialise in tasks related to banking, credit card accounts and also assist with data entry, dealing with suppliers and customers. Outsourcing accounting and office management services to bookkeepersare not just a way to save time and money; it is also the smartest way to run a small business.
The key to a successful company is earning high profits through the reduction of costs and efficient allocation of surplus capital. As a business owner, you need to keep updated with the latest changes in tax law and make sure your BAS is maintained. The simple all-around solution to stay in control of these tricky business chores is to hire a professional like Boss Bookkeeping.
The Benefits of BAS Agents
Keeping track of your sales and purchase history can be very time-consuming and when it comes to lodging BAS statements it’s often something that you just don’t have the time for while running a small business. This is why it is so important to hire the services of Boss Bookkeeping for these tasks. We are experienced in the correct lodgement and will be entirely in control of your paperwork to ensure you can focus on running the business side of your business.
Managing a business isn't a simple task, which is why our professionally trained BAS agents, are the best option to help with the accounting portion of your operation.
Beyond BAS related services which may vary according to your needs and your business, we also have vast experience with managing accounts, handling payroll, dealing with debtors and creditors, administration and superannuation.
Contact us today if you require assistance from an expert BAS Agent.
ADDITIONAL TAX AGENT INFORMATION
What it means to be a BAS Agent
The term “BAS Agent” typically applies to a business which contracts to a client to provide services to that client to do with their BAS obligations
The new legislation was implementedin providing all industries with protection and security. It is about the qualifications, experience, competence, professionalism of us as an external person being relied on to assist you with the obligations of GST, PAYG withholding (payroll), PAYG Instalment Payments, FBT Payments, WET, Fuel Tax and Luxury Car Tax (LCT).
You can check my registration as a BAS Agent at www.tpb.gov.au.
Only registered BAS Agents (and Tax Agents) are permitted to advise or help you “ascertain” (determine, establish, discover, make certain) your liabilities, obligations or entitlements of 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 minimum formal qualifications (e.g. Cert IV Financial Services (Bookkeeping)
- Continue to have sufficient, ongoing, continual relevant experience iv. Have an appropriate level of Professional Indemnity Insurance
- Undergo continuing professional education vi. Maintain professionalism in accordance with at least the statutory code of conduct
- Adherence to the code of conduct reinforces the concepts 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 service competently using knowledge and skills to take “reasonable care” to ensure that tax law is applied correctly for you
- Advising you about your obligations under the relevant tax laws
As a BAS agent, we do not advise you nor liaise with the tax office on Income Tax Matters. This is a role of a registered Tax Agent. We will work with your accountant and income tax advisors when income tax matters impact on BAS Service parts of your business. Such things as; reportable Fringe Benefits Tax Amounts, or Reportable Superannuation Contributions on your end of year Payroll Payment Summaries. Such things as; the Tax deductibility of entertainment of other items, where your ability to claim back GST depends on the tax agent’s treatment of those items for your tax return.
As a BAS agent and as a Professional ICB member we are committed to providing you with expert service and expert advice.
What is a BAS Agent allowed to do?
A BAS Agent is issued a license that says they can:
Advise a client, provide certainty to a client or represent that client to the tax office about:
- All GST matters
- All Wine Tax, Fuel Tax, Luxury Car Tax matters
- Payment of FBT
- All aspects of Payroll that relate to the withholding of tax amounts and the reporting of that amount to the employee and the Tax office
- All elements of other PAYG Withholding amounts: i.e. no ABN, Interest & Dividend
- All aspects of the payment of income tax via PAYG Instalments,
- All aspects of the Taxable Payments Annual Reporting system
- All elements of Superannuation Guarantee system as related to payroll and the charge
What does this mean?
A registered Agent may:
- Design and set up compliance systems
- Advise the client on how the above areas of law affect them
- Review a client's operations in relation to these areas of law and provide certainty to that client that they are getting it right.
These tasks cannot be done by a bookkeeper who is not a registered Agent.
So, what can a Bookkeeper do who is not a BAS Agent?
- They can follow systems designed by others
- They can process
- They can reconcile and produce results but not if the client is relying on those, without further action to be certain that they are meeting their obligations
- They should raise questions and not answer them
A BAS Agent can be a business with one or more qualified persons (registered BAS Agent/s) and others working, performing BAS Services, being supervised and controlled by the qualified person.
What Is BAS Service?
A BAS service is a tax agent service that:
- relates to:
Determine liabilities, obligations and entitlements of any entity that does, or could, arise under a BAS provision*
Advise an entity about liabilities, obligations and entitlements that do, or could, arise under a BAS provision
Represents an entity in dealing with the Commissioner regarding BAS provision
- is provided in circumstances where an entity is expected to rely on the service for the following:
liabilities or obligations under a BAS provision
claim entitlements under a BAS provision
* BAS provisions include:
- Fuel Tax Credits
- PAYG Instalments
- FBT Instalments
- Luxury Car Tax
- PAYG Withholding
* BAS provisions may also relate to:
- Superannuation Guarantee Contributions
- Superannuation shortfall
- Super payments through a clearing house
- Taxable Payments Annual Reports (TPAR)
- Lodging Tax File Numbers
- Apply for an Australian Business Number with the Australian Business Register
Call BOSS Bookkeeping services today to book your BAS agent.