5 Benefits of lodging with a BAS Agent that will save you sleep!

Have you ever wondered why your bookkeeper who is also a registered BAS Agent charges a BAS lodgement fee (or perhaps it's included in your bookkeeping package fee!)? The fee is to cover 5 things:

1. Safe harbour
2. Lodgement program
3. Code of conduct
4. Qualifications
5. Continuing professional education (CPE)

If you add up the value of these things, it's like paying an insurance premium, and to the BAS agent it's everything it costs in time, money and brainpower!

Let's explore these in more detail!

Safe Harbour

If you lodge your own BAS then you can get in trouble if there are mistakes or it’s overdue. You might even have to pay fines. If your BAS Agent lodges for you then you are safe. https://www.tpb.gov.au/safe-harbour

BAS Agent Lodgement Program

If you lodge your own BAS then you have to lodge and pay by the due date, but your BAS Agent is a lucky ducky, and gets extra time (usually 1 month extra). https://www.ato.gov.au/tax-professionals/prepare-and-lodge/bas-agent-lodgment-program/

Code of Conduct

Anyone can call themselves a bookkeeper and they don’t have to play by the rules, unlike your BAS Agent; if they aren't honest, independent, confidential or competent, the Tax Practitioners Board (TPB) have got your back. You can call them anytime if you’re not happy. https://www.tpb.gov.au/comply-code-professional-conduct-for-BAS-agents

Registration Requirements

To get registered a BAS Agent needs to be qualified, and experienced. 1000 hours supervised experience lodging BAS in the past 4 years, a minimum of a Cert IV in bookkeeping, insurance, membership with a professional body and doing ongoing study (CPE) every year. This minimum standard will help you sleep at night. https://www.tpb.gov.au/qualifications-and-experience-bas-agents

Continuing professional education (CPE)

To make sure your BAS Agent knows their stuff, the TPB ask them to study and give evidence that they are keeping their knowledge and skills up to date through taking relevant courses.

This means your BAS Agent spends a whopping 90 hours across three-years studying their little heart out about things that would probably make you….zzzzzzz. 

BAS Agents spend time, money and tonnes of brain-power doing seminars, webinars, workshops, courses and other educational activities like research, writing and presentations. https://searchregister.tpb.gov.au/TPB/Obligations/CPE

Knowing all of this should make you sleep well tonight knowing your BAS Agent has your back!