ATO

Any Tom, Dick, and Harry can prepare and lodge the BAS… but should they?

BAS Agent's Blog, For BAS Agents, Tax Practitioners Board / By / / , , , , / 4 minutes of reading

It’s a well known fact that almost everyone can prepare and lodge the Business Activity Statement (BAS). Those who charge a fee for this task must become registered with the Tax Practitioners Board (TPB) as stipulated by the TASA 2009 legislation. Others, however, who fit certain criteria (see below) don’t have to register but can still prepare and lodge BAS. So we have registered and unregistered persons doing the same job. The question is, should unregistered persons be preparing and lodging BAS in the first place? I don’t think so, and here’s why:

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Any Tom, Dick, and Harry can prepare and lodge the BAS… but should they?Read More »

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How to lodge your taxable payments annual report online

BAS Agent's Blog, For BAS Agents, Taxable Payments Annual Report / By / / , , , , , , , , , / 1 minute of reading

If you are in the building and construction industry, you are now required to lodge a taxable payments annual report (TPAR) by the 28th of August each year. The TPAR tells the ATO about payments you have made to contractors during the year in your business. Lodging via hard copy and snail mail can be a nuisance particularly if there are many contractors to report about. Information about lodging your TPAR online can be found on this ATO webpage.

Even though the above ATO webpage explains how to lodge the TPAR via the business portal, the instructions still apply to BAS Agents using the BAS Portal to lodge on behalf of clients as the lodging process is the same. In fact, the instructions apply to lodgement of any file via the portals so this video is pretty handy.

For more information about the Taxable Payments, Annual Report read our in-depth blog here.

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Tax Agent Services Act 2009

BAS Agent's Blog / By / / , , , , / 5 minutes of reading

The Tax Agent Services Act 2009 (TASA 2009) together with two other pieces of legislation known as “Regulations” and “Transitional Rules” make up the legislation or new laws that now govern the behaviour and business dealings of all bookkeepers, tax agents and now, the newly termed, “BAS Agents”. TASA 2009 was enacted on 1st March 2010.

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How do our Clients Deal with Source Documents?

BAS Agent's Blog, Bookkeeping, For BAS Agents / By / / , , , , / 4 minutes of reading

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?

BAS Agent's Blog, Bookkeeping, For BAS Agents / By / / , , , , / 2 minutes of reading

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

BAS Agent's Blog, For BAS Agents, Tax Practitioners Board / By / / , , , / 1 minute of reading

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

BAS Agent's Blog, Bookkeeping, Taxable Payments Annual Report / By / / , , , , , / 4 minutes of reading

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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Recipient Created Tax Invoices Free Fact Sheet

BAS Agent's Blog, GST & BAS / By / / , , , , / 1 minute of reading

Continuing with our series of free fact sheets, today we release our fact sheet about Recipient Created Tax Invoices. What are they? When do you use them? What needs to be included in them? Find out by downloading our free fact sheet. Also included,

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