BAS Agent Register - A Positive Step for Professional Bookkeepers

By Julia Nitschke

BAS agent registration is an increasing topic for Australian bookkeepers. There has been legislation recently introduced by the Australian Taxation Office (ATO) to introduce a BAS Agent register. This is to try and monitor those bookkeepers who are providing BAS related services to their clients and to ensure the bookkeepers understand the legislation as it relates to goods and services tax (GST).

Many bookkeepers have wondered why they can provide bookkeeping services to clients in all other areas yet the ATO wants to monitor their performance in relation to GST. The answer to this is actually because the GST is wrapped up in income tax legislation. Any one, which wants to provide income tax advice, must be a registered tax agent.

When the GST was introduced in 2000, it meant is the legislation was not altered to include other service providers, registered tax agents would feel the strain of a significantly increased work load. Additionally small business would suffer due to the increasing costs of compliance. Due to these factors, the income tax legislation was altered to suddenly include bookkeepers that could provide BAS and GST related services to small business.

To ensure the information was handled properly, new requirements meant bookkeepers could undertake these services providing they were either supervised by a taxation agent, or suitably qualified and experienced to do so themselves. This affected publicly practicing bookkeepers, however it also allowed for greater service expansion and increased revenue for bookkeepers.

New legislation, which is in the process of being introduced, now takes it one step further. The new legislation is set to put into place a register of BAS service providers. This means the ATO will have a master list of professionals who can offer BAS and GST services for a fee. Public bookkeepers that meet the requirements can be placed on the register.

Although this means some bookkeepers will require further study or experience it is ultimately a positive step for the bookkeeping industry. It is assisting in increasing the professional look of bookkeeping and it will give it more respect as a career choice.

Bookkeepers who are effected can look at undertaking study or joining a membership based organization which supports bookkeepers in public practice to comply with the legislation by providing the supervision of a registered tax or BAS agent.

Alternatively, bookkeepers can look into a process called recognition of prior learning. Qualifications in bookkeeping come under the Vocational Education and Training (VET) sector. This means that each course has certain modules in it and each module has certain outcomes, which must be attained. These outcomes are the same for the course regardless of the course provider, as it must meet the VET framework. By illustrating you meet these outcomes with your real life experience you can even gain a formal qualification without needing to undertake further study.

----------------
About the Author

Julia Nitschke is an Accountant, business consultant and author of the book My Bookkeeping Business, how to Start, Run and Grow your Bookkeeping Business. Visit http://www.mybookkeepingbusiness.info for more information and for a free bookkeeping e-course. Or if you are new to bookkeeping visit http://www.bookkeepingtutorial.info

Source: http://www.artipot.com