Compliance refers to various reporting obligations associated with the provision of BAS Services and from 01 March 2010 the ATO regulated the bookkeeping industry making it compulsory for all bookkeepers providing BAS Services (on a contractual or outsourced basis) to be Registered BAS Agents.
So let’s explore what this means…
A BAS provision includes:
• GST law
• wine equalisation tax law
• luxury car tax law
• fuel tax law
• fringe benefits tax law (relating to collection and recovery only)
• pay as you go (PAYG) withholding
• PAYG instalments.
(Subsection 995-1(1) of the Income Tax Assessment Act 1997)
A BAS service is any service that relates to:
• ascertaining liabilities, obligations or entitlements of an entity that arise, or could arise, under a BAS provision
• advising an entity about liabilities, obligations or entitlements of an entity or another entity that arise, or could arise, under a BAS provision
• representing an entity in their dealings with the Commissioner of Taxation, and is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes:
• to satisfy liabilities or obligations that arise, or could arise, under a BAS provision, or
• claim entitlements that arise, or could arise, under a BAS provision.
A BAS service also includes a service that the Tax Practitioners Board has declared, by way of a legislative instrument to be a BAS service.
(Section 90-10 of the Tax Agent Services Act 2009)
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