Is the Certificate IV in Accounting and Bookkeeping enough for me to register as a BAS Agent?
There have been many questions asked as to whether the new FNS40217 Certificate IV in Accounting and Bookkeeping meets the primary qualification requirement for one to register as a BAS Agent. The answer is, yes. However, there is more to the qualification requirement than simply the completion of the Certificate IV in Accounting and Bookkeeping course. There are more to the registration requirements than just the primary qualification factor. Details available here –www.edna.edu.au/online-courses/certificate-iv-in-bookkeeping/
In February, the Department of Education and Training announced the changes it has decided to make which affects, amongst other qualifications, the Certificate IV in Accounting and the Certificate IV in Bookkeeping. They have decided that, after thorough consultation with the industry, to combine the two qualifications and from the 14th of February 2019, the two qualifications were superseded by the Certificate IV in Accounting and Bookkeeping. You can also study the Diploma of accounting by clicking on the following link https://www.edna.edu.au/online-courses/diploma-of-accounting/
Primary Qualification – BAS Agent
The Tax Practitioners Board is yet to update the information on their website to reflect the new qualification, although it has been confirmed that it is accepted as a primary qualification.
BAS Agent Registration Requirements
To register as a BAS Agent as an individual, you must satisfy a certain set of criteria, not just holding the accounting and bookkeeping certificate:
- You must be 18-years of age – you cannot be under 18 years old to apply.
- You must be a fit and proper person – which takes into account whether you are of good fame, integrity and character; whether you have been convicted of an offence involving fraud or dishonesty; whether you have been penalized for being a promoter of a tax exploitation scheme; whether you have been penalized for implementing a scheme that has been promoted on the basis of conformity with a product ruling in a way that is materially different from that described in the product ruling; whether you are an undischarged bankrupt; and whether you have been sentenced to a term of imprisonment, or served a term of imprisonment in whole or in part. Click here to find out more about this requirement and the definitions that apply.
- You must satisfy the qualification and experience requirements – you must have successfully completed a Certificate IV in Accounting and Bookkeeping (or higher) from a registered training organization or an equivalent institution, must have completed a board-approved course in basic GST/BAS taxation principles (which may be included in the Certificate IV in Accounting and Bookkeeping), and completed 1,400 hours of relevant work experience in the past 4-years.
- You must maintain, or will be able to maintain, professional indemnity insurance cover that meets the TPB’s requirements.
- You must complete an online application and provide the required supporting documents.
Now that you know what the requirements are, you can a) start working towards achieving them, or b) register if you already meet the requirements!
What happens when I finally lodge my application with the TPB?
After you have lodged your application, the TPB will respond with a decision to either grant or reject your application for registration. If your application is approved, details of your registration will be recorded and published on the TPB register, you must inform the TPB of your professional indemnity insurance details within 14-days of approval, and the Australian Taxation Office will be notified that your registration has been approved. Alternatively, if your application is rejected, you will be advised of the reasons and of your appeal rights; and the ATO will be notified of the TPB’s decision to reject your registration.
Important: This information is correct as at the 19th of September 2018 and as available on the TPB website. This information may change at any time. Please refer to the TPB website for more information.