Registered BAS Agent

It is important to use a registered BAS Agent, as of 1st March 2010 the ATO regulated the bookkeeping industry.  Now, all bookkeepers providing a BAS Service are required to register as a BAS Agent.  When you choose Account On Me you get a registered BAS Agent based in Busselton, servicing the South West.

registered bas agent

The requirements of a BAS Agent are:

  • Certificate IV in Financial Services – Bookkeeping or Accounting
  • Member of a recognised Professional Association
  • Over 1000 hours relevant experience
  • Professional Indemnity Insurance
  • Ongoing Professional Development

What does that mean for you?

In the past, a bookkeeper was able to complete a MYOB or Quicken course and start charging for their services.  Unfortunately, due to their lack of experience, they often left a mess.  The client could do nothing about it except find someone else who, hopefully, would be able to clean up the mess.  It is a costly exercise both financially and emotionally.

As a BAS Agent there is a professional Code of Conduct in relation to:

  • Honesty and integrity
  • Independence (acting lawfully)
  • Confidentiality
  • Competence

Breaching the Code of Conduct can result in termination of the registration and Civil Penalties involving fines up to $137,500.  At last there is something that can be done if you are left in a mess.

We are Registered BAS Agents so that may give you confidence in the numbers, but the Team at Account On Me Bookkeeping believes that great bookkeeping is not about getting the compliance right…. it’s about empowering you around your finances!

The TPB’s definition of a BAS Service:

  • Applying to the Registrar for an ABN on behalf of a client
  • Coding transactions, tax invoices and transferring data onto a computer program for clients through processes that require the interpretation or application of a BAS provision
  • Confirming figures to be included on a client’s activity statement
  • Completing activity statements on behalf of an entity or instructing the entity which figures to include
  • Confirming the withholding tax obligations for the employees of a client
  • Services declared to be a BAS service by way of a legislative instrument issued by the TPB
  • Preparation and provision of a payment summary that may include reportable fringe benefits amounts and the reportable employer superannuation contributions
  • Registering or providing advice on registration for GST and PAYG withholding
  • Services under the Superannuation Guarantee (Administration) Act 1992 to the extent that they relate to a payroll function or payments to contractors
  • Determining and reporting the superannuation guarantee shortfall and associated administrative fees
  • Dealing with superannuation payments made through a clearing house
  • Completing and lodging the Taxable payments annual report to the ATO pm behalf of a client
  • Sending a TFN declaration to the Commissioner on behalf of a client.