What is a BAS Agent? What do they do? And how can you become one?
If you’re interested in pursuing a career in bookkeeping or accounting, you may have come across the term “BAS Agent” before. But what exactly is a BAS Agent, and what do they do? In this blog, we’ll explore the ins and outs of this profession and what steps you can take to become a fully qualified BAS Agent if it sounds like the right career path for you.
First things first, what is a BAS Agent? A BAS Agent, or Business Activity Statement Agent, is a registered professional who is authorised to provide BAS services to their clients. This includes tasks such as preparing and lodging business activity statements (BAS), managing payroll and superannuation obligations, and providing general advice on GST and tax compliance.
So, you may be asking yourself, what does a day in the life of a BAS Agent look like? Depending on the scope of their services and client base, a BAS Agent’s day-to-day responsibilities can vary. Some of their most common responsibilities include:
· Gathering financial data from clients to prepare BAS statements.
· Entering financial transactions into accounting software
· Reconciling bank accounts and other financial records
· Calculating and remitting GST payments
· Managing payroll and superannuation obligations
· Liaising with clients and the Australian Taxation Office (ATO) regarding compliance matters
As you can imagine from this, BAS Agents play a vital role in helping businesses’ day-to-day operations, by ensuring they stay on top of their financial obligations and comply with all relevant tax laws. BAS Agents must have a strong understanding of the accounting principles and be up to date with all taxation laws, as well as possess excellent communication skills, to work effectively with clients and regulatory bodies.
What is involved in becoming a fully qualified BAS Agent? Well, there are a number of courses, skill sets and certifications that individuals must go through in order to be recognised as a professional BAS Agent, one such of these courses is the BAS Agent Registration Skill Set, offered by the National Business Institute of Australia. This particular BAS Agent Course provides students with both comprehensive theories, and practical real-world examples, to help bookkeepers, payroll officers or administrators take the next step as registered BAS Agents.
This course, in particular, covers topics such as:
· BAS preparation and lodgement
· GST and taxation law compliance
· Payroll and superannuation management
· Communication and ethical standards
Upon completion of the BAS Agent Registration Skill Set, graduates will have the knowledge and skills required to apply for registration with the Tax Practitioners Board as a BAS Agent. This registration is necessary to legally provide BAS services to clients for a fee.
Becoming a BAS Agent is a highly rewarding career choice for those who have a passion for finance and a desire to help businesses succeed. By completing the BAS Agent Registration Skill Set provided by NBIA, you can gain the qualifications and skills needed to become a registered BAS Agent and take the first step towards a fulfilling career in bookkeeping or accounting.
We hope this blog has helped you understand the basics of what a BAS Agent is, what they do, and how to become one. If you’re interested in learning more about the BAS Agent Course offered by the National Business Institute of Australia, be sure to visit their website.