Bookkeeping BAS Agents From 1 March 2010
Are you a bookkeeper and not a BAS Agent?
From 1 March 2010 (in Australia) new legislation affecting all bookkeepers commences, tightening up the somewhat grey area regarding the preparation and lodgement of Business Activity Statements.
[Disclaimer: We are not lawyers or Tax Agents - any information given here is indicative only.You should do your own research how the legislation affects you before acting on any points outlined here - see www.tpb.gov.au for the full details]
There’s been many bookkkeepers starting out in their own bookkeeping business blissfully unaware that they were breaking the law by completing BAS forms for their clients.
With the new legislation, a BAS Agent can now legally give advice to a client, and represent that client to the tax office in relation to:
- 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 aspects of other PAYG Withholding amounts: ie no ABN, Interest & Dividend
- All aspects of the payment of income tax via PAYG Installments
If you are not a registered BAS agent then you cannot legally:
- install and set up accounting software packages
- Advise clients about how the above areas of law effect them
- Lodge BAS forms
If you are a bookkeeper who is not a BAS Agent, you can still run a [limited service] bookkeeping business:
- You can undertake data entry on an established accounting software package
- You can prepare all the necessary reports, do bank reconcilliations etc and do all the preparation to lodge BAS forms as long as someone else will be overseeing the work and the client isn’t relying solely on your work
- You can raise questions regarding GST and Payroll obligations etc, but not answer them
As we’ve already stated above you should do your own research and check out how the legislation affects you – see www.tpb.gov.au for the full details]
