BAS Agent

New law for BAS service providers

On 1 March 2010 the new Tax Agent Services law TASA 2009 came into effect. Benefits of the new law include:

• The establishment of a national Tax Practitioners Board to oversee registration and regulation of Tax agents and BAS agents,
• A Code of Professional Conduct, and
• The introduction of safe harbours in certain circumstances where taxpayers engage a tax agent or BAS agent.

The new Tax Practitioners Board will regulate Tax Agents and, for the first time, those providing BAS services. This means anyone providing BAS services for a fee or reward must now be registered to operate. 

 

What is a BAS Provision

 BAS provisions include:

• GST law
• Wine equalisation tax law
• Luxury car tax law
• Pay as you go (PAYG) instalments
• PAYG withholding
• Fuel tax law
• Fringe benefits tax instalments (relating to collection and recovery only).

What is a BAS Service

Under the TASA 2009, a BAS service is a tax agent service that relates to:

• Ascertaining or advising an entity about the liabilities, obligations or entitlements of the entity, or another entity, that arise, or could arise, under a BAS provision
• Representing an entity in dealings with the Commissioner in relation to a BAS provision that is provided in circumstances where the entity can reasonable be expected to rely on the service for the purpose of:

-satisfying liabilities or obligations that arise, or could arise, under a BAS provision, or

-to claim entitlements that arise, or could arise under a BAS provision

 

• A BAS service therefore includes, but is not limited to:

 - configuring GST Default Codes in accounting software

- ascertaining the withholding obligations for the employees of your entity, including the  preparation of payment summaries

-preparing or lodging an approved form about a taxpayer's liabilities, obligations or entitlements   under a BAS provision

-giving a taxpayer advice about a BAS provision that the taxpayer can reasonable be expected to rely upon to satisfy their obligations

-dealing with the commision on behalf of a taxpayer in relation to a BAS provision

 

For further information please check www.tpb.gov.au