BAS Agent’s Blog

BAS Preparation Checklist – Free Download

Here at e-BAS Accounts we do everything via systems and checklists. When we process a client’s BAS we use our “BAS Preparation Checklist”. Using the checklist ensures that we never miss a thing! Today we are sharing the checklist with you – it’s free to download! Enjoy!

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Load & Go: Australia Post’s Visa Prepaid Card – an Alternative to Petty Cash

The other day I visited a client who told me about Load & Go Visa Cards. He was looking for a way to better handle giving petty cash to employees for minor business-related purchases. It wasn’t that he didn’t trust his employees with the cash, it was more that the physical handling and recording of cash purchases was becoming difficult to maintain and as a result, some purchases were not being recorded at all. My client wanted a more efficient system for petty cash purchases and after some research came across Load & Go Visa Cards from Australia Post. These are rechargeable pre-paid Visa cards to which you add your own funds up to the value of $999.00.

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Source Documents & Our Obligations as BAS Agents

This is part 3 in our blog series about source documents. In parts 1 and 2 we explained what source documents are, why they’re important, and also how our clients deal with them. Today we will look at how the legislation which guides us as BAS Agents impacts the way we work with source documents.

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How do our Clients Deal with Source Documents?

Last week we looked at source documents, what they are and why they’re important. This week we look at how our clients work with source documents, how they deliver them to us, and the various issues that can arise from time to time.

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What are Source Documents & Why are they Important?

Bookkeepers and accountants who are processing your accounts may ask you to present “source documents” to verify the information in your accounting file. What are source documents and why are they important?

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Dad & Partner Pay

From 1 January 2013, the Paid Parental Leave Scheme will be expanded to include the new “Dad & Partner Pay”. Under this new scheme, eligible working fathers and partners can get up to 2 weeks of Dad and Partner Pay to take time off work to care for a newborn or newly adopted child. This applies to both heterosexual and same-sex couples.

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How BAS/Tax Agents can advise of a change of contact details

If you are a registered BAS Agent or Tax Agent, you are obliged to advise both the ATO and the Tax Practitioners Board (TPB) of any change of your contact details.

Some BAS/Tax Agents are under the impression that if they advise the TPB of any change of their details, that the TPB will automatically advise the ATO of this information. This is not the case! You must advise both the ATO & the TPB of your details changes in order to keep them up to date. The TPB only advises the ATO of approved or cancelled registrations. They don’t exchange any changes in personal contact data.
 
 
 
The contact data you must advise the ATO & TPB about include:
  • Postal address
  • Telephone number
  • Fax number
  • Email address
 
 
To advise the ATO, you can call them on 1800 443 846.
 
 
 
To advise the TPB of any contact details changes, go to their website www.tpb.gov.au, select Agent Log-in, enter your log-in details and then choose Your Profile. Enter your contact detail changes as required. You can also send an email to the TPB via enquirymanagement@tpb.gov.au to advise them of any changes.
 
 
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Taxable Payments Reporting for the Building & Construction Industry

Recently I attended one of the free webinars presented by the ATO about the new Taxable Payments Reporting system that has begun as of today, July 1st, 2012. I found it to be very informative and easy to follow. I highly recommend anyone who needs to know more about the new system, attends one of these webinars. Here’s hoping the ATO will produce many more webinars across a whole range of topics in the months to come – much easier attending a presentation from the comfort of your own office!

 The following is a summary of what was presented at the webinar:

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Why You Should do Your Own Bookkeeping

There’s a big push at the moment to outsource every task in your business that you don’t want to do. While this concept has merit, there is one business task that you probably shouldn’t outsource, your bookkeeping.

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