How to become a registered BAS agent
Qualifications and experience for BAS agents
If you want to provide BAS services for a fee or other reward, you must be registered with the Tax Practitioners Board (TPB).
The Tax Agent Services Regulations 2009 (TASR) includes the requirements for becoming a registered BAS agent[i].
Basically, you need a primary qualification + board approved courses + relevant experience. That means a Certificate IV (or higher) in bookkeeping or accounting. You also need to do a board approved course in GST/BAS taxation principles. Monarch’s FNS40215 Certificate IV in Bookkeeping or FNS40615 Certificate IV in Accounting covers both qualification and board approved course requirements.
If you are a member of a recognised professional association, you’ll need 1,000 hours of relevant work experience, done within the last four years. If you’re not a member of an association, you’ll need 1,400 hours.
Here’s a summary:
Source: tpb.gov.au. Accessed January 2018.
What are board approved courses?
Board approved courses are nationally recognised units that have been approved by the Tax Practitioners Board (TPB) for registration purposes. Generally, they’re included in your main qualification. These units are included in Certificate IV qualifications and in the BAS and Payroll courses offered by Monarch Institute. Specifically, Monarch Institute offers two approved units – MAS001 (Activity statements) and MPA001 (Payroll administration). These units are included in:
What is ‘relevant experience’?
‘Relevant experience’ generally means hands-on experience providing one or more BAS agent services. This means things like preparing the books and records for a business for the purpose of their BAS obligations, under the supervision of a registered BAS agent.
Your work experience needs to be verified by your supervisor/s using a Statement of relevant experience (SRE) form.
What are the other requirements for registration?
Once you’ve got the right qualifications and experience, you can apply for registration as long as you:
- Are at least 18 years old.
- Are a ‘fit and proper person’. This means:
- You have a good reputation in the community.
- You haven’t been convicted of serious offences including tax offences, or other offences involving some sort of fraud or dishonesty.
- You’ve never been in prison.
- You aren’t an undischarged bankrupt.
- Get (and maintain) professional indemnity insurance.
- Minimum level of insurance depends on turnover of the tax agent services business, but can be between $250,000 and $1 million worth of insurance. Depending on your circumstances, premiums may start at about $40 a month.
Getting registered as a BAS Agent
You can apply online for registration.
The application fee is $50 for employees, or $100 for independent contractors/sole practitioners.
Before you start, you’ll need to make sure you have:
- Electronic copies of your qualifications, transcripts, and course outlines for the studies you’ve done.
- Your Statement/s of relevant experience from employer/s. NB: If you’re no longer with an employer, they’re still generally obliged to fill in your SRE form.
- Details of your BAS agent or tax agent association membership (if held).
Applications are generally processed within 30 days.
The information provided here is a guide. It was current at the time of publication by Monarch Institute, but may be subject to change by the TPB. Please check with the TPB to ensure you have the latest information and for any special requirements which may be specific to your individual circumstances.
For more information, check out the Tax Practitioners Board website or feel free to call one of our friendly course consultants.