To ensure the standards of all bookkeeping services new legislation requires business activity statement (BAS) agents, who prepare BASs for a fee to be registered in accordance with the Tax Agent Services Act 2009. The Tax Agent Services Act 2009 is complemented by the Tax Agent Services (Transitional Provisions and Consequential Amendments) Bill 2009. The provisions in regards to registration of BAS agents are to be effective in 2010.
Meanwhile paragraphs 251L(6)(a) and 251L(6)(b) of the Income Tax Assessment Act 1936 (ITAA 1936) apply.
Under 251L(6) BAS service provider must be a member of recognised professional association or a bookkeeper who works under the direction of a registered tax agent.
A BAS service includes preparing or lodging business activity statements, giving advice about a BAS provisions, dealing with ATO on behalf of the taxpayer in relation to business activity statements (sec 251L(7) ITAA 1936).
Tags: ATO, BAS agent, BAS Services, Bookkeeping fees, Tax