16/08/2007
ICB joins with the bookkeeping industry in representing the views of bookkeepers to Treasury
ICB joined with Australian Bookkeepers Network, Franchise Bookkeepers Association of Australia, Jims Bookkeeping, Busy Bookkeeping, Several Bookkeeping businesses in the making of the submission to Treasury to represent our industry response to the current Exposure Draft. The submission was made following intense discussion with each of the above and consultation including the major software companies. The response and reactions of ICB bookkeepers obtained during the recent BSP Information Sessions were included in the submission.
ICB remains of the belief that the core and the intent of the government are sound. However this is not based on the documents provided in the exposure draft but following consultation with Treasury. There are provisions, definitions and implications of the Exposure Draft that cause concern and open ended/undefined powers conferred to the tax board that also cause concern.
Based on the various reactions and other submissions that have been made public it would appear the draft legislation has some significant further development before we have an effective workable new system.
We do require a new system. We require good bookkeepers.
Bookkeepers who work in the area of advising businesses and interpreting the BAS & GST law must be competent to provide that advice and interpretation.
We welcome the approach of government: Recognising that Bookkeepers are part of that professional service to small business; Recognise and assist appropriate bookkeepers to achieve improved level of professionalism and competence.
This intent of government needs to be reflected in the system to be implemented.
We require competent bookkeepers and accountants to be accredited to deliver BAS & GST services.
However we also require the implementation of a system that does not place such a burden on the potential BAS Service Provider that they decide instead to leave the industry. The costs of becoming and maintaining BSP status must be constrained.
The impact of the Draft legislation has the potential to markedly increase the cost to small business of complying with their BAS & GST obligations.
ICB is a professional association of bookkeepers (including current and future BSP’s). We represent the bookkeeping industry in working effectively with Government, with Accountants, with Software.
A copy of the ICB's submissions can be viewed by clicking here.
