Bookkeeping Services Tips

If you are an individual or entity providing BAS Services in your own right for a fee or reward you are required by law to be registered as a BAS Agent.

Exceptions- You do not need to register as a tax or BAS agent if you are:

· an employee of an organisation that prepares business activity statements for their employer’s business

· an employee of a registered tax or BAS agent and you do not provide tax agent or BAS services in your own right

· a legal practitioner providing tax agent or BAS services as a legal service under a state or territory Legal Profession Act and do not prepare and lodge returns or return like statements such as: ­ business activity statements, instalment activity statements, superannuation guarantee statements, pay as you go withholding payment summary statements

· a legal practitioner providing tax agent or BAS services as a legal service under a state or territory Legal Profession Act in the course of acting for a trust or deceased estate as a trustee or legal personal representative

· a customs broker licensed under the Customs Act 1901 providing a BAS service relating to imports or exports to which an ‘indirect tax law’ (as defined in section 995-1 of the Income Tax Assessment Act 1997 (ITAA 1997)) applies.

If you fall into the the above categories of providing a BAS Related Service, you will also be required to meet the following Qualification Obligations:

Option 1:

· have been awarded a Certificate IV in Financial Services (Bookkeeping) or (Accounting) from a registered training organisation or equivalent institution, and

· have successfully completed a Board approved course in basic GST/BAS taxation principles (which may be included in the Certificate IV).

OR Option 2:

· have been awarded a higher award than a Certificate IV in the field of bookkeeping or accounting from a registered training organisation or equivalent institution (for example, a Diploma, Advanced Diploma or Degree), and

· have successfully completed a Board approved course in basic GST/BAS taxation principles (which may be included in the higher award).

AND

- Be at least 18 Years of Age

- Have 1,400 hours of relevant experience or if a member of a Professional Association, 1,000 hours

-Hold current Professional Indemnity Insurance

-Be a fit and proper person

-Pay the application fee