A BAS accountant, also known as a BAS agent, is a registered professional who handles your Business Activity Statements and related tax reporting. A BAS (Business Activity Statement) is the form Australian businesses use to report taxes like GST, PAYG withholding, PAYG instalments, and other obligations to the ATO. BAS agents specialize in preparing these reports accurately and lodging them on time. By law, anyone providing BAS services for a fee must be registered with the Tax Practitioners Board (TPB)tpb.gov.au. Unregistered individuals are not permitted to lodge BAS on behalf of someone else, so always verify that your adviser is a registered BAS agent.
A BAS accountant’s main responsibilities include:
- Preparing and lodging BAS: They complete your BAS form(s) accurately each period and submit them electronically to the ATO. This ensures all sales, purchases and tax liabilities are reported correctly.
- Managing GST and PAYG: They calculate the GST to remit on sales and ensure you claim the correct GST credits on purchases. They also handle any PAYG instalments or PAYG withholding for employee wages.
- Reconciliation and record-keeping: They work with your financial records (invoices, receipts, payroll reports) each quarter to make sure the BAS reflects your actual transactions.
- Amending past BAS: If you discover an error after lodging a BAS, the BAS accountant can prepare and lodge an amended BAS to correct mistakes.
- Software and processes: They can help set up or optimise accounting software (like Xero or MYOB) so it automatically tracks BAS-related items.
- Advising on tax issues: They explain how business changes (such as growth in sales or hiring staff) affect your tax obligations and guide you through any new BAS requirements.
Registered BAS agents must meet formal qualification criteria. The TPB requires at least a Certificate IV in bookkeeping or accounting (or higher) and a completed course in BAS tax principles. They also need significant practical bookkeeping experience. These requirements ensure BAS accountants have the proper training. BAS accountants are also subject to the TPB’s Code of Professional Conduct and must carry professional indemnity insurance. These rules give you confidence that a registered BAS accountant is competent and trustworthy.
Hiring a BAS accountant offers clear benefits:
- Accuracy and compliance: A BAS accountant helps avoid mistakes and penalties. The ATO imposes fines for late or incorrect BAS lodgements, so their expertise can save you from costly errors.
- Time savings: Completing your BAS can be time-consuming and error-prone. A BAS accountant frees you to focus on your business rather than tax paperwork.
- Cash flow management: An experienced agent can help you plan for GST and PAYG payments, improving your cash flow. They can also prepare budgets or estimates so you can set aside funds for upcoming tax obligations.
- Peace of mind: Knowing a qualified professional has checked and filed your BAS provides confidence. If the ATO questions a BAS, your BAS accountant can help respond with the right documentation.
It’s important to verify a BAS accountant’s registration before hiring. The TPB has a public register where you can confirm any BAS agent’s credentials. Only professionals listed there can legally lodge BAS on your behalf. If in doubt, you can check the TPB website for registered BAS agents in your area.
In summary, a BAS accountant (registered BAS agent) is your specialist for GST, PAYG and other activity-statement taxes. They simplify compliance by preparing and lodging your BAS forms accurately and on time. For more on how a BAS accountant can assist, see our blog on hiring a BAS agent. Working with a registered BAS accountant means one less major task on your plate and a smoother tax experience overall.
General information only – seek professional advice before acting.
