A new legislative instrument has been released which has extended the services BAS Agents can provide to clients in relation to the super guarantee charge (SGC). BAS Agents have been able to assist clients with superannuation tasks for approximately 2 years now, but this instrument allows them to do more and be of greater benefit to clients.
BAS Agents can currently offer superannuation services to clients like processing, advising upon and lodging monthly/quarterly superannuation guarantee data. The Tax Agent Services (Specified BAS Services Services No. 2) Instrument 2020, as it is known, will allow BAS Agents to expand upon these services to include the following tasks in relation to SGC:
- Act as an authorised contact on behalf of clients with the ATO in relation to SGC accounts, payment arrangements, penalty remissions, super audit and/or review activity;
- Advising clients when the superannuation guarantee (SGC) charge applies and why;
- Advising clients about offsetting late payments of superannuation contributions against the SGC;
- Completing the late payment offset election section of the SGC statement;
- Acting on behalf of clients in relation to lodging the SGC statement.
The instrument will also allow BAS Agents to view and access superannuation guarantee and SGC accounts in online services.
If you are a BAS Agent and would like to read the detail of the new instrument, here is the link to the Explanatory Statement.
The new legislation means that we can now assist clients with superannuation services on a much higher level and therefore provide more value than before. We have added these new services to our services page where you can also view other services we provide.
If you would like to find out more about the superannuation guarantee charge, go to this ATO webpage.