BAS agent registrations - register online now!

Anyone providing business activity statement (BAS) services for a fee or reward must register with the Tax Practitioners Board (Board) to continue to provide those services.

If you have been providing BAS services for a fee immediately before 1 March 2010, you have until 31 August 2010 to notify the Board. It is free to become registered under the tax agent services legislation and you will avoid any penalties.

For more information or notify online, visit www.tpb.gov.au

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BAS Agent Advisory Group - new name

The Bookkeeper Advisory Group last met on Friday, 28 May 2010 in Sydney.

One of the topics discussed was the future of the forum.

Due to the new status and responsibilities associated with the regulation of BAS agents, the former Bookkeeper Advisory Group will be re-focussed to the needs of registered BAS agents. The forum will be chaired by the Deputy Commissioner TPALS and will be known as the BAS Agent Advisory Group.
 
Minutes of the meeting will be available for you to read soon.

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BAS agent and bookkeepers - your own home pages

We've been working with the BAS Agent Advisory Group to develop a dedicated home page for BAS agents on our website and also giving the Bookkeeping essentials web page an update.

To ensure you have the information you need to make tax related decisions, these home pages should be used in conjunction with Tax topics (located on the left menu of our website) and other available information.

Thank you to all who have provided feedback and assistance while developing these pages.

You may want to add BAS agents - home or Bookkeepers - home to your 'Favorites' depending on your needs.

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Lodgment Program 2010-11 now includes registered BAS agents

As a registered BAS agent, you now have lodgment concessions included in this year's lodgment program - Lodgment Program 2010-11.

The program includes these new initiatives for BAS agents:

§  Lodgment and payment concessions when lodging eligible quarterly business activity statements (BAS) electronically.

§  A lodgment concession for PAYG withholding payment summary annual reports (not closely held concession).

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Annual Tax practitioner seminar

Our annual June Tax practitioner seminar is now available for you to view. There are a number of topics which may be of particular interest to you as a BAS agent:

§  Lodgment Program 2010-11

§  introduction of AUSkey

§  the administration of safe-harbour provisions

§  products and services for registered BAS agents

§  an interview with Dale Boucher, Chair of the Tax Practitioners Board

Watch or download the seminar via video streaming, audio podcast or video download at Tax practitioner seminar - June 2010.

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BAS agent services guide - available online

Once you are registered as a BAS agent and need to phone us, you can use the BAS agent services guide.

The guide is designed to help direct your calls to the most appropriate area for assistance.

By phoning 13 72 86 and entering your registered agent number, you then select the Fast Key Code for the area you need to speak to.

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We take proof of identity seriously

When calling us to discuss your client's tax details, we will ask you a series of questions to make sure your client's information is only given to people authorised to receive it.

Find out the type of information you need when we confirm your Proof of identity.

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Report tax evasion easily and confidentially

When you phone us on 13 72 86, you can also use Fast Key Code 3 4 to report tax evasion by individuals and businesses.

Your personal details are protected by strict privacy and secrecy provisions in the law and will remain confidential.

It is helpful if you provide us with thorough information about the alleged tax evasion, including details such as the name and address of the individual or business, and their ABN.

If you don't have a registration number, you can contact us by phone, fax or mail.

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Free seminar for BAS agents - register now!

You are invited to attend a free seminar for BAS agents about administrative and BAS related issues including:

§  products and services

§  lodgment due dates and concessions

§  common BAS errors

§  correcting GST mistakes

§  Standard Business Reporting

§  reportable employer super contributions

§  assistance for small business

§  safe-harbour provisions

These seminars will not cover issues relating to the registration of BAS agents. For matters regarding registration go to the Tax Practitioners Board website at www.tpb.gov.au

You can register online at Speakers and seminars, alternatively, you can phone 1300 661 104.

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Make sure authorised contact details are up-to-date

If we need to discuss certain activity statement errors or issues, we need to speak to your client's authorised contacts.

You can ensure your client's authorised contacts are current by updating them online, by phone or by mail.

For further information, refer to Change of registration details or phone 13 28 66.

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Lodging a nil activity statement

Did you know that you can use our self-help telephone service to report your clients nil activity statement (zero reporting lodgment obligations)?

To do this, phone 13 72 26 (available 24 hours a day, seven days week) and enter your client's Australian business number (ABN) or tax file number (TFN) and then, enter their activity statement's document identity number when prompted.

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Luxury car tax threshold for 2010-11

For this financial year, the luxury car tax (LCT) threshold is $57,466 and the car limit for fuel efficient cars is $75,375.

A 33% LCT rate applies to most cars over these thresholds.

The maximum goods and services tax (GST) credit that can be claimed by clients that purchase a luxury car is $5,224. This applies regardless of whether the luxury car is fuel efficient or not.

For more information, refer to:

§  LCTD 2010/1 Luxury car tax: what is the luxury car tax threshold and fuel efficient car limit for the 2010-11 financial year?

§   Guide to luxury car tax (NAT 3394)

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Draft retirement villages ruling released for comment

A draft goods and services tax (GST) ruling was released on 9 June 2010, titled Draft GSTR 2010/D1 Goods and services tax: interest free loans received by the developer of a retirement village.

You are invited to comment on the draft Ruling by 23 July 2010 by referring to the ruling.

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Is your client having difficulty paying their tax liabilities?

If your client is having trouble meeting their tax payment obligations it's important to contact us early. Working with the Tax Office to address debts before they become unmanageable improves the prospects for the ongoing viability of a business.

A range of assistance options are available, including remission of some or all general interest charge imposed and flexible payment arrangements.

To discuss your client's situation, phone 13 11 42 between 8.00am and 6.00pm, Monday to Friday.

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Making fringe benefits tax (FBT) easier

We have recently updated Reportable fringe benefits - facts for employees to help employers explain to their employees the reportable fringe benefits amount on their payment summary.

If your clients have any queries about FBT, refer them to a registered tax agent.

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Cutting red tape for small business through new super clearing house

Do you have clients who are employers?

If you do, the government is offering a free superannuation clearing house service to small businesses with less than 20 employees.

The Small Business Superannuation Clearing House (the Clearing house) is administered by Medicare Australia and lets employers pay their super contributions to a single location.

The Clearing house will be available from 1 July 2010.

For more information, visit www.medicareaustralia.gov.au/super or phone Medicare on 1300 660 048.

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What's new?

We have selected some of the new and updated documents recently published to our website, which may be of interest to you as BAS agents.

Portal maintenance schedule
This document is updated whenever there is any scheduled portal downtime.

Legislation expands tax rulings regime
Following the passage of the Tax Laws Amendment (2010 GST Administration Measures No 2) Bill 2010 on 17 June 2010, the general rulings system will expand to include excise, GST and other indirect taxes from 1 July 2010.

Goods and Services Tax TPANI 2010/1
Third Party Adjustment Note Information Requirements.

Fuel tax credits rates and eligible fuels
This information lists the fuel tax credits rates and eligible fuels from 1 July 2006.

Phoenix operator jailed for $6.7 million fraud
A phoenix operator was sentenced to three years jail in the Sydney Downing Court for failing to remit $6.7 million to the ATO.

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