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BAS Agent’s Blog

How to lodge your taxable payments annual report online

If you are in the building and construction industry, you are now required to lodge a taxable payments annual report (TPAR) by the 28th of August each year. The TPAR tells the ATO about payments you have made to contractors during the year in your business. Lodging via hard copy and snail mail can be a nuisance particularly if there are many contractors to report about. Information about lodging your TPAR online can be found on this ATO webpage.

Even though the above ATO webpage explains how to lodge the TPAR via the business portal, the instructions still apply to BAS Agents using the BAS Portal to lodge on behalf of clients as the lodging process is the same. In fact, the instructions apply to lodgement of any file via the portals so this video is pretty handy.

For more information about the Taxable Payments, Annual Report read our in-depth blog here.

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How has the TASA Legislation Changed?

As of 30 June 2013, the Tax Agent Services Act 2009 (TASA) has been amended. What parts of the legislation have been amended and how does this affect BAS/Tax Agents? There are 5 main areas of the TASA 2009 legislation that have changed. These areas include:

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Tax Agent Services Act 2009

The Tax Agent Services Act 2009 (TASA 2009) together with two other pieces of legislation known as “Regulations” and “Transitional Rules” make up the legislation or new laws that now govern the behaviour and business dealings of all bookkeepers, tax agents and now, the newly termed, “BAS Agents”. TASA 2009 was enacted on 1st March 2010.

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10 Characteristics of the Ideal Bookkeeping Client

We’ve been running our bookkeeping business for over 10 years and in that time we’ve worked with many different clients; some have been wonderful and others not so great. So what makes a great client or ideal client? We have compiled our list of 10 characteristics that we believe the ideal bookkeeping client presents.

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Can You Trust Bank Feeds?

It’s common knowledge now that if you are using cloud accounting software, you have access to bank feeds i.e. your bank transactions are pulled into your accounting file from your bank institution on a daily basis via the magic of the “cloud”. This means that you have up to the minute updates on exactly what’s happening in your business accounts. This is a great thing – no doubt. It also means the amount of time you would otherwise spend on tedious data entry is considerably reduced – what’s not to like? Undoubtedly bank feeds have been a real boon for business owners and bookkeepers alike but lately, due to some recent events in our BAS Agent practice, I have started to wonder if we actually can or should trust bank feeds. Let me tell you what happened……

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BAS Preparation Checklist – Free Download

Here at e-BAS Accounts we do everything via systems and checklists. When we process a client’s BAS we use our “BAS Preparation Checklist”. Using the checklist ensures that we never miss a thing! Today we are sharing the checklist with you – it’s free to download! Enjoy!

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Load & Go: Australia Post’s Visa Prepaid Card – an Alternative to Petty Cash

The other day I visited a client who told me about Load & Go Visa Cards. He was looking for a way to better handle giving petty cash to employees for minor business-related purchases. It wasn’t that he didn’t trust his employees with the cash, it was more that the physical handling and recording of cash purchases was becoming difficult to maintain and as a result, some purchases were not being recorded at all. My client wanted a more efficient system for petty cash purchases and after some research came across Load & Go Visa Cards from Australia Post. These are rechargeable pre-paid Visa cards to which you add your own funds up to the value of $999.00.

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Source Documents & Our Obligations as BAS Agents

This is part 3 in our blog series about source documents. In parts 1 and 2 we explained what source documents are, why they’re important, and also how our clients deal with them. Today we will look at how the legislation which guides us as BAS Agents impacts the way we work with source documents.

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How do our Clients Deal with Source Documents?

Last week we looked at source documents, what they are and why they’re important. This week we look at how our clients work with source documents, how they deliver them to us, and the various issues that can arise from time to time.

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