FNSBKG404A – Carry out BAS/IAS tasks

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Question 1:

  • What is a BAS agent?  Include in your answer an explanation of what is considered to be ‘BAS services’.
  • Indicate whether the following people are undertaking BAS services:
Service BAS Service (Yes or No)
Kim works for an IT company who install accounting software for clients.  Kim’s job includes setting up the default GST codes for the clients.
Paul is a bookkeeper who prepares the accounting data and instructs his clients on what information to include in the Business Activity Statement.  However he does not prepare the Business Activity Statement.
Ling is a junior accountant.  Her job is to prepare bank reconciliations.
Rahul is a bookkeeper who codes transactions, performs reconciliations and prepares activity statements for clients.

Question 2: What is the name of the organisation that is responsible for registering and regulating BAS agents?  Hint: it is not the Australian Taxation Office.

Question 3: If you are an employee preparing a BAS for your employer do you need to be registered as a BAS agent?

Yes or No:                           ____________

Question 4:

Judy is 34 years old and wishes to register as a BAS agent.  She is an individual who has just completed her Certificate IV in Bookkeeping which included the units:

  • FNSBKG404A Carry Out BAS/IAS tasks and
  • FNSBKG405A Establish and Maintain a Payroll System.

Judy is considered to be a fit and proper person and has never provided a BAS service previously. She is NOT a member of a professional association.

Required: Write an email to Judy explaining whether she currently satisfies the registration eligibility requirements to become a BAS agent and if not what else does she need to do before becoming eligible?

Hint: Your answer should be in an email, include whether she needs to undertake further studies above what she has already completed and the amount of work experience she requires (if any).

Question 5:

The Code of Professional Conduct set out in Part 3 of the TASA 2009 governs the ethical and professional standards of registered tax agents and BAS agents. It regulates the personal and professional conduct of a registered tax agent or BAS agent.

  • List 3 principles included in the code of professional conduct contained within the TASA 2009.
  • How many hours of Continuing Professional Education must be undertaken by a BAS agent over a 3 year period?  Hint: Please make sure you find the number of hours for a BAS agent not a tax agent. Further make sure you don’t confuse work experience with Continuing Professional Education.
  • How does this requirement improve the service provided from BAS agents.

Question 6: Outline the different ways in which a BAS agent can lodge a Business Activity Statement?

Question 7: If you were working as a BAS service provider (employee or BAS agent) and you had a question about the GST treatment of a transaction where would you seek help?  Provide a list of people and organisations that may be able to assist you.