A registered BAS Agent is issued a licence that says they can advise and represent a client to the tax office in relation to:
- GST matters
- Wine Tax, Fuel Tax, Luxury Car Tax matters
- Payment of FBT
- Payroll that relate to the withholding of tax amounts and the reporting of that amount to the employee and the Tax office
- Other PAYG Withholding amounts: ie no ABN, Interest & Dividend
- Payment of income tax via PAYG Instalments
- Taxable Payments Annual Reporting system (TPAR)
- Superannuation Guarantee system
A BAS Agent cannot compile your income tax return nor offer advice on business structure, dividends and investments. In general, a BAS Agent isn't allowed to give financial advice.
If anyone provides BAS services for a fee or other reward, they must be registered with the Tax Practitioners Board (TPB). There are severe penalties for anyone providing BAS services for a fee or reward or advertising BAS services while unregistered.