Warning: This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
New continuing professional education policy for BAS agents
The Tax Practitioners Board (TPB) has launched its continuing professional education (CPE) policy for registered BAS and tax agents. This policy assists you to meet your obligations under the Code of Professional Conduct in regard to maintaining the knowledge and skills relevant to the services you provide.
From 1 July 2012, you should begin or carry on your CPE in line with this policy, which includes keeping evidence of the CPE you have completed.
When applying to renew your registration from 1 July 2013, the TPB will ask if you are complying with the CPE policy.
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For more information, refer to www.tpb.gov.au then select BAS agents - Education.
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Lodgment program 2012-13
The Lodgment program 2012-13 - BAS agents provides you with concessions:
- for lodgment and payment of eligible quarterly activity statements
- for lodgment and payment of December monthly business activity statement for eligible clients
- for lodgment of pay as you go (PAYG) withholding payment summary annual reports (not closely held concession).
By lodging your clients' eligible quarterly activity statements electronically, they will have an additional four weeks to lodge and pay. These concessions are only available when you lodge your clients' activity statements using:
- the BAS Agent Portal
- standard business reporting (SBR) software
- the electronic commerce interface (ECI).
New BAS agent services guide now available online
A new edition of the BAS agent services guide is now available online.
So you can continue to quickly find the right service or information for your needs or the right person to talk to when you phone us, the July 2012 edition includes:
- the services you can use to interact with us online
- hyperlinks to useful information on our website
- new and changed Fast Key Codes.
The services guide can be accessed as a standard web page for online use, or in downloadable portable document format (PDF) to enable you to print it for easy reference.
New streamlined complaint resolution process
As part of our Tax practitioner action plan 2011-15, from 1 July 2012 we will introduce improvements to our complaint resolution process.
We have made changes to our approach to improve the efficiency and effectiveness of the resolution process. The main change being that you will be able to liaise directly with the person resolving your complaint, allowing for quicker resolution.
We will continue to provide you with a priority service when using our registered agent phone line 13 72 86 Fast Key Code 3 2 1 to lodge a complaint.
BAS Agent Portal upgrade
As part of the Tax practitioner action plan 2011-2015, one of our focuses is on improving the support and assistance we provide to BAS agents. We have been listening to your feedback and are working to expand what you can do and see in the BAS Agent Portal.
Proposed improvements include giving you access:
- to view your clients' activity statement accounts
- to view and update registration details of clients you are authorised to access
- to create and view payment arrangements for your clients.
This upgrade will allow us to increase the level of electronic interaction with BAS agents and we will let you know how this project is going in future editions of this newsletter.
The TAXAGENT magazine - latest issue online now
The TAXAGENT magazine - issue 55 - June 2012 is now available online for you to read.
Our cover story is about the new framework we are introducing for the lodgment program. With help from many of you, we have developed a framework that allows us to better recognise the vast majority of registered tax agents and BAS agents who effectively support their clients.
Other articles include:
- lodgment dates for pay as you go (PAYG) withholding reports
- self-assessment of amounts under indirect tax laws
- the GST financial supplies provisions
- standard business reporting.
Are your clients expecting a BAS refund?
We now have the discretion to retain activity statement refunds while we carry out verification checks of the amounts claimed.
Where we decide to retain a refund we must inform your client that we are doing so by the end of the 14th day after you lodged their activity statement.
There are several factors that we need to take into account before we can retain a refund.
Luxury car tax threshold for 2012-13
From 1 July 2012 the luxury car tax (LCT) threshold is $59,133.
The LCT threshold is now indexed annually in line with the All groups consumer price index (CPI).
There are no changes to:
- the 'car limit' ($57,466)
- the 'fuel efficient car limit' ($75,375).
These two limits continue to be indexed in line with the Motor vehicle purchase sub-group of the CPI.
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For more information, refer to:
- LCTD 2012/1 Luxury car tax: what is the luxury car tax threshold and fuel efficient car limit for the 2012-13 financial year?
- Luxury car tax (NAT 3394).
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Report tax evasion
Under our GST Compliance Program we are strongly committed to protecting businesses that do the right thing, by detecting and dealing with serious tax evasion and fraud.
You can help by being aware of clients and claims that may seem unusual, being extra diligent in substantiating these claims and, if you suspect fraudulent behaviour, reporting the matter to us by:
Do you provide BAS services for a fee?
If you are providing BAS services for a fee, you must be registered with the Tax Practitioners Board (TPB).
If you do not meet the standard registration requirements, you may be able to apply using the transitional option available until 28 February 2013.
You will only be able to legally provide BAS services after the TPB confirms your registration has been granted.
For more information, visit www.tpb.gov.au then select BAS agents - About registration.
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.
What's new for your practice?
Keydates - July to September 2012
A list of key dates for registered agents for the period July - September 2012.
System maintenance and issues
This page contains scheduled downtime and details of issues currently affecting our online services.
BAS Agent Advisory Group minutes, March 2012
Minutes of the BAS Agent Advisory Group meeting held on 8 March 2012.
What's new for self assessment for indirect taxes?
Self assessment for indirect taxes - overview
An overview of self assessment changes for indirect tax laws, which take effect from 1 July 2012.
Guide to self assessment for indirect taxes
A guide to the self-assessment changes for indirect tax laws as a result of recommendations 19, 21 and 42 from the Board of Taxation review of the goods and services tax (GST) administration.
What's new for GST?
Time limits on GST refunds
Sets out the time limits that apply in claiming outstanding indirect tax refunds and GST credits for purchases.
Correcting GST mistakes
Explains when businesses can use a later activity statement to correct mistakes made on an earlier activity statement. It does not apply to 'adjustments' as defined in the GST law, just errors and omissions.
GST for small business
Provides information about GST and explains what you must do to meet your GST obligations.
GST financial supply provisions - overview
An overview of changes to the GST law affecting financial supply provisions.
GST and financial supplies - completing your activity statement
Explains what a financial supply is and how to complete your activity statement. Also clarifies when you can claim GST credits for financial supplies, the financial acquisitions threshold and calculation methods.
GST and financial supplies - claiming reduced GST credits
This fact sheet explains the GST obligations for self managed superannuation funds and provides details of the requirements for claiming reduced GST credits on purchases used to make financial supplies.
Hire purchase, leasing and GST
This fact sheet explains what hire purchase leasing is, how GST applies and how you can claim GST credits on hire purchases. It also explains how leasing agreements operate, how GST is payable and how you can claim GST credits.
GST and floating a company
Explains GST issues when you float a company.
GST and the disposal of capital assets
How to account for GST when disposing of capital assets.
Employee reimbursements and GST
Employers are entitled to GST credits for employee reimbursements.
GST-free health supplies - overview
An overview of changes to the GST law to ensure that certain supplies made by a health care provider are GST-free.
GST and medical services
How GST applies to medical services. Incorporates changes to the GST law from 1 July 2012.
GST and other health services
This fact sheet explains what health services, apart from medical services, are GST-free. Incorporates changes to the GST law from 1 July 2012.
GST and acupuncture, naturopathy and herbal medicine services
This fact sheet explains how GST applies to acupuncture, naturopathy and herbal medicine services. Incorporates changes to the GST law from 1 July 2012.
GST and payments between government related entities - overview
An overview of the GST treatment of payments made between government related entities.
What's new elsewhere on our website?
Non-Profit News Service No. 0376 - Released: GST ruling about the GST treatment of financial assistance payments
We have released GST Ruling 2012/2, which provides the Commissioner's view about the way the GST law applies in relation to financial assistance payments, including government grants.
Tips for charities
This fact sheet helps charities including religious organisations check that they are correctly accessing tax concessions and meeting their tax obligations.
Tax practitioner webcast - June 2012
The latest tax practitioner webcast was released on 26 June 2012. Some topics may be of general interest to BAS agents.
Tax crime investigations and results
Find out about tax crime, how we are dealing with it and how you can help.
SME Communicator - June 2012
The SME Communicator provides relevant information specific to businesses with an annual turnover between $2 million and $250 million.
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Last Modified: Wednesday, 1 August 2012