You May Be Thinking… What’s the Difference?
Firstly, not all Bookkeepers need to become BAS Agents! A Bookkeeper can also be a BAS Agent! However, if a business requires a contract Bookkeeper to provide a BAS service, they must be a registered BAS Agent. It is only a BAS Agent that can interact with the ATO and your obligations to the ATO, on your behalf, unless they are your employee.
A Bookkeeper and BAS Agent play an integral part in any business. They are engaged with an expectation to keep or assist in keeping accurate and up to date financial records for every month, quarter, and at the end of the financial year. Thankfully, we are both!
However, it is imperative to note there is a distinct line between the two roles and responsibilities as detailed below.
Responsibilities of a Bookkeeper
Bookkeeping can look different from business to business, however the most common tasks that a Bookkeeper will generally undertake include:
A registered BAS Agent must have the required qualifications and experience as outlined in the Tax Agent Services Regulations 2009 (TASR). Refer to the Tax Practitioners Board (TPB).
BAS services / Advanced bookkeeping services include but are not limited to:
Contracted Bookkeepers providing BAS services for a fee, must be registered BAS Agents. Additionally, undertake continuing professional education programs throughout each year.
Boox the Bookkeeping Experts are a registered BAS Agent. We can perform all duties and responsibilities that your business needs to fulfil your accounting needs.
Contact us for more information on how we can help you and your business! - Sally@boox.com.au
10% Super Guarantee (SG) Rate applies to all payroll “paid” on or after 1st July so Payroll Software setup will have to be changed before any pay is processed to ensure the 10% rate is applied properly.
Ensure that all payroll systems are up-to-date and comply with Single Touch Payroll (STP) & Superannuation requirements: these changes may not happen automatically so confirm with your Bookkeeper or BAS Agent on these changes have been updated.
When processing a payroll be mindful the latest 10% rate is applied to Ordinary Times Earnings amounts paid after 1st July 2021, irrespective of when those amounts accrued.
If a payroll is paid after the 30th of June 2021 then the whole amount for that period (even if some of the payroll period is in the month of June) will incur the 10% super increase. Do not use both rates.
When Amounts are Accrued
The 9.5% rate applies to Ordinary Time Earnings salary paid up to 30th June 2021. The new 10% rate will apply to OTE/salary amounts paid from 1st July 2021.
Super Guarantee Contributions Act Section 19 stipulates that SG is payable on payment date rather than earned date.
Quarterly salary or wages base, for an employer in respect of an employee, for a quarter means the sum of: