A BAS Agent is a registered accounting professional who specialises in assisting clients with preparing and submitting their Business Activity Statement (BAS). They advise business owners of their obligations, liabilities and entitlements under BAS provision and ensure that all statements conform to government regulations.
BAS Agents perform many of the functions of a bookkeeper but are also authorised to advise on all aspects of GST, Fringe Benefits Tax (FBT), superannuation, PAYG withholding and other applicable tax payments. A BAS Agent will also deal directly with the ATO on behalf of their client regarding the lodgement of Business Activity Statements.
Additional services offered by many BAS Agents include, calculating and processing payment summaries, employee termination payments, gross wages and other payroll tasks; monitoring super guarantee (SG) contributions, and completing a taxable payments annual report for the ATO. They may also perform other tasks on behalf of their client, such as lodging a tax file number declaration or applying to the registrar for an Australian Business Number.