Question

Australian BAS agents: What legislation needs to be complied with and what procedures need to be...

Australian BAS agents: What legislation needs to be complied with and what procedures need to be followed to comply with legislation, regulations and the Code of Professional Conduct?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A BAS agent is a person who is authorized to prepare and lodge BAS returns on their clients behalf and to also advise their clients on any BAS related items such as taxes like GST and PAYG.

The code of professional conduct regulates a registered BAS agent. This code states some principles which needs to be followed by him like: honesty and integrity, independence, confidentiality, competence, etc.

BAS agent is regulated by Tax Agent Services Act 2009. This act regulate the supply of BAS agent. This law states that only the bookkeepers who had applied for the registration as a BAS agent are allowed to render BAS services to their client.

A BAS agent needs to satisfy the board that they meet the criteria to be a BAS agent.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Write a 2,500 word paper explaining the role of the BAS agent—what a tax or BAS...
Write a 2,500 word paper explaining the role of the BAS agent—what a tax or BAS agent must do with regard to preparation and lodgement of BAS and IAS forms. Explain what GST is, how the BAS applies and why it is used. In the paper answer these questions: What legislation needs to be complied with and what procedures need to be followed to comply with legislation, regulations and the Code of Professional Conduct? What is a tax agent service?...
Policies and procedures Develop a range of policies and accompanying procedures for recruitment, selection and induction...
Policies and procedures Develop a range of policies and accompanying procedures for recruitment, selection and induction in a new organisation. Describe the organisation and its core business then explain how and why you would analyse strategic and operational plans and policies before developing recruitment, selection and induction policies and procedures. Make a list of the legislation and the regulations that are relevant to the policies and procedures. Develop and list the supporting documentation or forms you will need to create,...
Clients’ needs are not static: what are the internal and external factors that need to be...
Clients’ needs are not static: what are the internal and external factors that need to be identified and monitored to ensure clients financial objectives are met. List and explain three ways you could use to obtain feedback on financial services. From your personal experience, or from the experiences of others, what are three possible shortfalls in financial service standards? Suggest some methods to sort them out. List appropriate authorities and sources from where reliable and accurate data can be sorted....
FinTechCo Case Study Company Overview FinTechCo is a medium-sized financial services company comprising of 45 employees...
FinTechCo Case Study Company Overview FinTechCo is a medium-sized financial services company comprising of 45 employees with an annual revenue of $10 million. It has approximately 1000 customers comprising of private individuals and small companies. FinTechCo’s mission is to provide financial services and advice to its clients, to sell various products and services and offer consultation guidance regarding the information systems that support them. Problem Statement FinTechCo’s technical team were originally qualified financial planners who transitioned into technical roles and...
Why do you suppose the marketing of the tax shelters at KPMG grew so fast? a.Transformational...
Why do you suppose the marketing of the tax shelters at KPMG grew so fast? a.Transformational leadership b. Moral manager c. Social learning theory d. Moral intensity [The following information applies to the question.] In Chapter 4 we discussed the artificial tax shelter arrangements developed by KPMG LLP for wealthy clients that led to the settlement of a legal action with the Department of Treasury and the Internal Revenue Service. On August 29, 2005, KPMG admitted to criminal wrongdoing and...
What tools could AA leaders have used to increase their awareness of internal and external issues?...
What tools could AA leaders have used to increase their awareness of internal and external issues? ???ALASKA AIRLINES: NAVIGATING CHANGE In the autumn of 2007, Alaska Airlines executives adjourned at the end of a long and stressful day in the midst of a multi-day strategic planning session. Most headed outside to relax, unwind and enjoy a bonfire on the shore of Semiahmoo Spit, outside the meeting venue in Blaine, a seaport town in northwest Washington state. Meanwhile, several members of...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich,...
Mattel Responds to Ethical Challenges Business Ethics This case was written by Debbie Thorne, John Fraedrich, O. C. Ferrell, and Jennifer Jackson, with the editorial assistance of Jennifer Sawayda. This case was developed for classroom discussion rather than to illustrate either effective or ineffective handling of an administrative, ethical, or legal discussion by management. All sources used for this case were obtained through publicly available material. Mattel, Inc. is a world leader in the design, manufacture, and marketing of family...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From...
Sign In INNOVATION Deep Change: How Operational Innovation Can Transform Your Company by Michael Hammer From the April 2004 Issue Save Share 8.95 In 1991, Progressive Insurance, an automobile insurer based in Mayfield Village, Ohio, had approximately $1.3 billion in sales. By 2002, that figure had grown to $9.5 billion. What fashionable strategies did Progressive employ to achieve sevenfold growth in just over a decade? Was it positioned in a high-growth industry? Hardly. Auto insurance is a mature, 100-year-old industry...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how...
Delta airlines case study Global strategy. Describe the current global strategy and provide evidence about how the firms resources incompetencies support the given pressures regarding costs and local responsiveness. Describe entry modes have they usually used, and whether they are appropriate for the given strategy. Any key issues in their global strategy? casestudy: Atlanta, June 17, 2014. Sea of Delta employees and their families swarmed between food trucks, amusement park booths, and entertainment venues that were scattered throughout what would...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT