As of March 1st 2010, the ATO regulated the bookkeeping industry in a move to protect business owners from poor practices. Now, all bookkeepers providing a BAS Service are required to register as a BAS Agent. The requirements of a BAS Agent are
Certificate iv in Financial Services – Bookkeeping or Accounting
Member of a recognised Professional Association
Over 1000 hours relevant experience
Professional Indemnity insurance
Ongoing Professional Development
What Does This Mean For You?
In the past, a bookkeeper was simply able to complete a MYOB or Xero course and start charging for their services. Unfortunately, due to a lack of experience, they often left their clients in a terrible mess. When this happens, the only thing the client could do was to find someone who could tidy up the mess. Unfortunately, this is a costly exercise both financially and emotionally.
Using a Qualified, Experienced Registered BAS Agent means you are protected by the ATO Safe Habour Provisions.
As a BAS Agent there is a professional Code of Conduct in relation to:
Honesty and integrity
Independence (acting lawfully)
Breaching the Code of Conduct can result in termination of the registration and Civil Penalties involving fines up to $137,500. At last there is something that can be done if you are left in a mess.
We are Registered BAS Agents so that may give you confidence in the numbers, but the Team at BAS Angels believes that great bookkeeping is not just about getting the compliance right … it’s about empowering you around your finances!
BAS Agent Registration No. 26457614
Professional Indemnity Insurance - Chubb Insurance Policy No. 93302189