Do I need to use a BAS agent to submit my BAS?

Posted on: 24 March 2017

While you are not legally obliged to use a BAS agent to submit your BAS (Business Activity Statements), it can be a great idea for small business owners to use a BAS agent. Here are some of the reasons that it can be useful. 

Frees up time

If you are not an experienced BAS agent, it can be time-consuming to submit the statements. Not only do you need to source and submit all the correct information, but you also need to be able to navigate the ATO (Australian TAx Office) business portal, which is known to be finicky. BAS agents are experienced in the quickest and easiest ways to source the information and check it for accuracy, as well as being able to confidently negotiate the business portal. This frees you up to concentrate on more important tasks where you can add value. 

Ensures compliance

It can be tricky to work out the exact amounts to submit in your BAS, particularly if you have a complex set of taxes to claim credit for including diesel or wine imputation. A BAS agent can ensure that you are not over claiming, which minimises your risk of being audited and/or being fined. This can be a great way to save time longer term as well as reducing stress for the business owner. 

Maximises tax return

While you don't want to overclaim on your tax receipts, you also don't want to miss out on any deductions that you are owed. BAS agents have the time and motivation to stay up to date on changes to the tax law, and they can find you some extra tax deductions to make sure that you get the maximum possible tax return. 

Provide advice

As your BAS agent will be experienced in looking at all sorts of bookkeeping systems for different types of businesses, they can often provide advice on ways to streamline your accounting processes on a day-to-day basis. This can make a range of other tasks such as payroll, bank reconciliations and invoicing easier and more efficient, which can be very useful for busy small business owners. 

As you can see, while it is not a requirement to use a BAS agent to lodge your BAS, there can be some significant advantages for small business owners to do so. Why not call a BAS agent to discuss your business operations and see if this is right for your business?

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