Question

Registration and scope of services documentation requirements for BAS agents (150–180 words)

Answer 1

Registration requirements for BAS

1. Minimum age requirement is 18 years. Hence,person should be atleast 18 years of age.

2. Person should be of good character. Furthermore, there is no conviction for dishonesty, taxation offence, imprisonment, bankruptcy etc in last five years.

3.Person must have requisite education and qualification along with membership of professional association. Furthermore, relevant experience is also mandatory.

4. Professional indemnity insurance must be taken to compensate the clients in case incorrect advice from BAS.

5. File an online application with relevant supporting documents.

Services provided by BAS.  

1. Determining client liability and obligations in taxation.

2. Representing the client with their dealings with taxation authorities.

3. Advising the client about the provisions of taxation under a BAS provision.

Scope of services:-

1. Calculation of GST amount collected or paid.

2. Computation of WET payable or refundable.

3. Fuel tax credit amount determination.

4. Determine luxury car tax amount.

5. Calculating FBT installment.

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