What is a BAS Agent?

What is a BAS Agent?

A BAS Agent is a licensed agent that can give BAS services for a fee. They are usually bookkeepers and are and fully certified with the Tax Practitioners Board.

BAS agents do so much more than bookkeeping, however. They are concerned with advising businesses concerning taxation under the BAS provisions.

These usually cover:

  • Payroll tax concerns, such as the correct remittance and reporting of withholding tax.
  • FBT payments
  • GST payments
  • Taxes on certain goods such as luxury items, like fuel, wine, and cars
  • Superannuation Guarantee system
  • Taxable Payments Annual Reporting system
  • Income tax payments and withholding amounts via PAYG installments

What Does A BAS Agent Do?

It is an advisory role to businesses facilitating full compliance with operating rules and the Tax Agent Services Act.

In most cases, these agents also represent companies in front of the BAS service commissioner.

Typical roles of a BAS agent include:

  • Designing systems to comply with necessary BAS provisions
  • Ensuring businesses are compliant with BAS rules on every decision
  • Reviewing business processes to ensure they are on the right track with regards to BAS law.
  • Administering bookkeeping tasks, as necessary

How is a BAS Agent Different to a Bookkeeper?

A bookkeeper’s role will often slightly overlap with that of a BAS agent. A bookkeeper’s role stops with the day-to-day processing of transactions or systems operation, however.

BAS agents are bookkeepers with significantly more responsibility and specialization. The primary purpose is in giving advice with regards to BAS tax laws.

Bookkeepers can’t legally do the same. They also can’t design systems or represent businesses in front of the BAS.

Qualified agents design the system for BAS compliance. Bookkeepers implement it.

How Your Business Benefits from BAS Services

The BAS rules may not always be clear cut, and there might be some confusion in applying them to your business. The help of a BAS agent is invaluable, ensuring your company is compliant with these regulations throughout its operation.

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