From 1 January 2010, new law will come into effect regulating both registered tax agents and business activity statement (BAS) agents. Registration as a BAS agent is a new requirement under this law and applies to those providing BAS services for a fee or other reward, who advertise the provision of such services, or who hold themselves out as being registered.
What is a BAS service?
A BAS service includes activities such as:
- preparing or lodging a BAS form about a taxpayer's liabilities, obligations or entitlement under a BAS provision;
- giving advice about a BAS provision that the taxpayer can reasonably be expected to rely upon to satisfy their obligations; and
- dealing the Commissioner on behalf of a taxpayer in relation to a BAS provision.
A BAS provision refers to the payment of GST, wine equalisation tax, luxury car tax, pay as you go (PAYG) instalments, PAYG withholding tax, fuel tax and fringe benefits tax.
What is not a BAS service?
Not all services leading to the preparation of a BAS are considered BAS services. The following services are not BAS services because they do not require the interpretation or application of a BAS provision:
Who can be registered as a BAS agent?
The following entities may register as a BAS agent:
- individuals;
- partnerships; or
- companies.
There are education and/or experience requirements which must be met for registration as a BAS agent.
Where BAS services are being provided, failure to register as a BAS agent can lead to penalties and civil action by the Tax Practitioner Board. |
