If you’re a business owner in Australia, handling your Business Activity Statement (BAS) can be time-consuming, confusing, and, if not managed correctly, costly. Here’s why engaging a registered BAS agent can be one of the smartest moves you make for your business.
Expertise & Professional Standards
Registered BAS agents are certified professionals, rigorously vetted by the Tax Practitioners Board (TPB). To achieve this status, they must meet strict criteria in training, qualifications, and experience, ensuring they are highly skilled in BAS preparation and lodgement. A BAS agent’s understanding of the tax laws and compliance requirements means you receive accurate, trustworthy advice and service.
Code of Professional Conduct
The TPB enforces a Code of Professional Conduct for all registered BAS agents, requiring them to maintain honesty, integrity, and competence. This code also mandates confidentiality, so you can trust that your business data is secure. This commitment to ethical standards protects you from potential mishandling or misuse of your information and ensures you’re dealing with someone who values professionalism as much as you do.
Consumer Protection
One of the biggest advantages of using a registered BAS agent is the consumer protection offered by the TPB. If something goes wrong or if the agent fails to meet their professional obligations, you have a channel for complaints and dispute resolution. This protection is only available when working with a registered BAS agent, giving you peace of mind that your interests are safeguarded.
Extended Deadlines
Deadlines can often feel like a race against the clock. Registered BAS agents are granted extended BAS lodgement deadlines, giving you a bit more breathing room. This is especially valuable if you find yourself needing extra time to gather information or want to avoid the rush of meeting strict quarterly deadlines. With an agent on board, you can focus on running your business without the stress of tight timeframes.
Potential for Cost Savings
Errors in BAS lodgement can lead to fines, penalties, or even costly audits from the Australian Taxation Office (ATO). Hiring a registered BAS agent can prevent these errors, potentially saving you from paying more than you should. Additionally, their expertise can help identify areas where you may be entitled to claim back or save on certain taxes, making your investment in their services even more worthwhile.
Efficiency & Peace of Mind
Outsourcing BAS tasks to a professional allows you to focus on what you do best: growing your business. BAS agents streamline the process, ensuring your paperwork is completed accurately and lodged on time, helping reduce your administrative workload and giving you confidence that your business is compliant.
