As of 1^st March 2010, bookkeepers need to be registered as BAS Agents to lodge BAS for your business... Don't get caught and cop the penalties.

BAS agents will now require an accounting qualification, such as a certificate, and minimum of 2 years work experience. They will also need to get Professional Indemnity Insurance next year to practice. The new code of conduct will also come with civil penalties, which include a written caution, an order to complete some form of education or suspension and termination of registration.

We welcome the changes after 10 years dealing with poorly trained and unqualified bookkeepers. One of the main reasons for the change is due to lack of understanding and failure by bookkeepers in accounting correctly for income tax and GST in the BAS. Their business clients paid penalties to the ATO for incorrectly declaring income tax and overclaiming GST. 

What do you need to do to protect your business?

1.   If your bookkeeper is lodging your business BAS, you need to ask him/her if they are a registered BAS agent. If they are a registered BAS agent with the new Tax Practitioners Board, they must show you their registration certificate in order to continue lodging the BAS on your behalf.

2.   If your bookkeeper is not registered as a BAS agent, they can no longer lodge your BAS. You need to get your registered tax agent to lodge the BAS from now on.

3.   If you wish for your bookkeeper to be registered as a BAS agent, they need to apply to the Tax Practitioners Board. The BAS agent will need to have an accounting qualification + work experience for at least 2 years.

Winner Partnership can help you!

1. BAS Lodgements: We can lodge your BAS if your bookkeeper is not a registered BAS agent. From $165/BAS, we can review your MYOB file/excel sheets to check for accuracy, work out the income tax that needs to be paid, and lodge the BAS. It pays to deal with a qualified Accountant to handle all your Bookkeeping, Tax and BAS needs.

2. Book keeping: We have implemented a new bookkeeping technology that will save you time and slash your book keeping costs by at least 40%. You will get timely monthly profit and loss and cahflow statements with financial analysis of your business performance. Call us on 9221 7977 to discuss how we can help you.