SBDC BLOG
Are you using the right tax or BAS agent?
Using an unregistered agent to lodge your tax return or business activity statement (BAS) can put you and your business at risk.
The costs of being in business are rising because of
An unregistered tax or BAS agent may not have the appropriate qualifications or skills needed to handle your BAS or tax requirements.
If the agent is negligent with your return, you will not be protected by the safe harbour provision that protects you from liability or penalty for these errors, which would be the case if your BAS and tax agent is registered.
inflation, interest rate rises and other economic factors. If you rent your business premises, you might find your lease includes details of annual rent increases. Rental increases are often calculated using a formula such as the consumer price index (CPI) plus two per cent, or what’s known as a market review (MR).
Here’s your guide to understanding market reviews and how these can impact your rent and therefore, your bottom line in business.
How can I check that my agent is registered?
The good news is that checking that your agent is registered is as simple as: using the Tax Practitioners Board’s online register to search for your agent looking for the registered agent symbol (pictured right), a tax practitioner would also display their registration number along with the symbol
Benefits of using a registered BAS or tax agent
By using a registered agent you can be confident that:
- your agent is fully qualified and bound by a professional code of conduct
- you are protected under their professional indemnity insurance
- you can enjoy extended lodgement dates for tax returns and BAS statements
End of financial year resources
For more information on your business and tax obligations, read our finance information and our tax time tips, including:
- free end of financial year checklist
- expert tax tips
- tax planning tips for a bumper year ahead
- how to prepare for a downturn in your income.
- quick guide to tax deductions
You can also contact our free small business advisory service on 133 140.
More information
If you discover the agent you are using is unregistered, contact the Tax Practitioners Board
For more tips on finding an accountant, read our choosing an accountant information guide.
