BAS Agent Laws

 

What are the BAS Agent Laws?

Overview

Completing the Certificate IV in Bookkeeping  delivers the minimum education requirements as specified under the new BAS Agent Laws[1] contained in the Tax Agent Services Act (TASA).  These Laws established National Tax Practitioners Board[2] which replaces the six existing state based boards to regulate approximately 20,000 tax agents and 10,000 BAS agents across Australia.  

BAS services capture the majority of services provided by most bookkeepers. Thus, if you are a bookkeeper you need to be registered by the National Tax Practitioners Board as either a BAS Agent or Tax Agent otherwise you cannot render BAS Services to your clients. The Board maintain a public register of Registered BAS Agents at www.tpb.gov.au.

BAS Agents are subject to a Code of Professional Conduct which imposes a range of obligations that include the obligation to hold sufficient Professional Indemnity Insurance.

What do I need to register as BAS Agent under the Tax Agent Services Act?

TASA requires a bookkeeper to lodge a formal application to the Board to become registered[3] that includes satisfying the following:

  1. “Fit and Proper Person”
  2. “Educational” ( completion of Cert IV in Bookkeeping or a Cert IV in Accounting) and
  3. 1400 hours of “relevant experience” in the past three years” requirements.[4]

Transitional Rules

Under item 14 of the Transitional Rules bookkeepers with the ability to attain an initial BAS Agent registration by satisfying fewer requirements than would ordinarily be the case. These applicants must demonstrate prior to 1 March 2013 that they have been providing BAS services to a competent standard for a reasonable period.

 

 




[1] The BAS Agent Laws are contained within the Tax Agent Services Act 2009 (“TASA”) and supporting “Regulations” and the “Transitional Rules”.

[2] On 23 October 2009, the Assistant Treasurer, Nick Sherry officially launched the new National Tax Practitioners Board (the Board), which will be responsible for regulating the new tax agents services regime.  The new regime is expected to commence on 1 January 2010.  The Board will replace the six existing state based boards to regulate approximately 20,000 tax agents and 10,000 BAS agents across Australia. The Board aims to provide consumer protection to clients of tax practitioner service providers by reducing the level of uncertainty and risks for people through a new, national, independent regulatory regime for tax agent services.

[3]  The initial BAS Registration Period is granted for a period of three years.

[4] The 1400 hours relevant experience is reduced to 1000 hours for members of a Recognised Tax Agent Association. (eg CPA)