Running a small business in Australia involves wearing many hats: sales, marketing, admin, and of course—managing your finances. One of the most critical and often confusing responsibilities is complying with the ATO’s tax reporting requirements, especially the Business Activity Statement (BAS). If you’ve ever wondered what a BAS accountant does and whether you need one, this guide is for you.
A qualified BAS accountant can be your business’s secret weapon, ensuring you remain compliant, avoid costly penalties, and spend more time growing your business. Let’s break down exactly what BAS accountants do, when you need one, and how to find the right one.
What Is a BAS Accountant?
A BAS accountant is a professional who is qualified and registered to prepare and lodge Business Activity Statements on behalf of businesses. They specialise in helping business owners meet their ongoing tax obligations including GST, PAYG withholding, and other tax liabilities reported through BAS.
While some accountants may offer BAS services, only those who are registered BAS agents with the Tax Practitioners Board (TPB) are legally authorised to provide these services for a fee.
What Makes a BAS Accountant Different?
- Registered with TPB: Only a TPB-registered BAS agent can legally lodge BAS for clients.
- Specialised Expertise: BAS accountants focus specifically on activity statements and compliance with GST and payroll requirements.
- ATO Representation: They can act on your behalf with the Australian Taxation Office (ATO).
What Are BAS Services?
BAS services involve a wide range of tax compliance and reporting tasks. Here are the main services a BAS accountant can offer:
✅ Common BAS Services:
- Preparing and lodging BAS (monthly, quarterly, or annually)
- GST calculations and reconciliation
- PAYG Withholding reporting
- PAYG Instalments
- Superannuation tracking and compliance
- Single Touch Payroll (STP) reporting
- BAS amendments and corrections
- Communicating with the ATO on your behalf
- Software setup and integration (Xero, MYOB, QuickBooks)
These services are vital for ensuring your business remains compliant with tax obligations and avoids unnecessary penalties.
What Is BAS Lodgement and Why Is It Important?
The Business Activity Statement (BAS) is a form submitted to the ATO to report and pay various tax obligations, including:
- Goods and Services Tax (GST)
- Pay As You Go (PAYG) Withholding
- PAYG Instalments
- Other taxes like wine equalisation tax or luxury car tax
⏰ BAS Lodgement Frequency
Your lodgement schedule depends on your business size and turnover:
- Monthly: For businesses with GST turnover over $20 million
- Quarterly: For most small to medium-sized businesses
- Annually: In limited cases for very small businesses
⚠️ Consequences of Late BAS Lodgement
- ATO penalties and interest charges
- Missed deductions or refunds
- Risk of ATO audits or reviews
- Business cash flow disruptions
Hiring a BAS accountant ensures timely, accurate lodgement and gives you peace of mind.
How BAS Accountants Help With GST Reporting
GST reporting is one of the most important components of BAS.
📅 GST Tasks Handled by BAS Accountants:
- Tracking GST collected from customers
- Recording GST paid on business purchases (input tax credits)
- Ensuring correct classification of GST-exempt items
- Reconciling accounts to ensure accurate reporting
- Identifying over- or under-reporting issues
They help you avoid common GST mistakes such as:
- Claiming GST on non-GST items
- Not claiming input tax credits properly
- Errors in GST-free or input-taxed items
A skilled BAS accountant will not only prepare your GST reports but also strategically advise on how to manage GST efficiently.
BAS Agent vs Bookkeeper: What’s the Difference?
Many small business owners wonder if their bookkeeper can handle BAS. While bookkeepers are essential for day-to-day record-keeping, not all are qualified to lodge BAS.
📊 Comparison Table:
| Feature | Bookkeeper | BAS Agent |
|---|---|---|
| Can lodge BAS? | ❌ No | ✅ Yes |
| Registered with TPB? | Optional | Required |
| Can represent you to the ATO? | ❌ No | ✅ Yes |
| Provides GST/PAYG advice? | ❌ No | ✅ Yes |
| Handles BAS amendments? | ❌ No | ✅ Yes |
When a BAS Agent Is Necessary:
- If you’re registered for GST
- If you need to report PAYG or superannuation
- If your business has employees
Why Hiring a BAS Accountant Is Crucial for Small Business Owners
A BAS accountant isn’t just a compliance officer. They become a valuable part of your financial team. Here’s why:
✅ Benefits of a BAS Accountant:
- Avoid ATO penalties and audits
- Accurate and timely lodgements
- Improve cash flow with better forecasting
- Optimise GST and PAYG reporting
- More time to focus on running your business
- Professional representation with the ATO
- Real-time advice on compliance and reporting
Especially for growing businesses, having a BAS accountant is not just smart — it’s essential.
How to Find a Registered BAS Accountant
Finding the right BAS professional can feel overwhelming. Here’s how to narrow it down:
✅ Tips for Choosing a BAS Accountant:
- Check TPB registration: Use the TPB Register to verify their credentials
- Industry experience: Look for experience in your specific sector
- ATO communication skills: Choose someone comfortable dealing with the ATO on your behalf
- Tech-savvy: Ideally, they should be familiar with Xero, MYOB, or QuickBooks
- Clear pricing: Ensure transparency in fees and billing
- Positive reviews: Look for client testimonials or ratings
🔗 Use Finistry.com.au to browse verified BAS accountants in your area.
When Should You Engage a BAS Accountant?
If any of the following apply to you, it might be time to get a BAS accountant involved:
⚡ When to Hire:
- You’re registering for GST for the first time
- You’re hiring employees and need to manage PAYG and super
- You’re behind on BAS lodgements
- You received a notice or letter from the ATO
- Your business is growing and compliance is eating into your time
Many businesses start with DIY BAS but soon realise that professional help saves time, reduces stress, and protects against costly errors.
Frequently Asked Questions
❓ What is the difference between a BAS agent and a tax agent?
A BAS agent can assist with activity statements, GST, PAYG, and payroll reporting. A tax agent can handle all tax matters, including income tax returns for individuals and companies. Some accountants are registered as both.
❓ Can a BAS agent give tax advice?
They can only provide advice related to their scope of work, such as GST, PAYG, and superannuation obligations. For broader tax planning or income tax matters, you’ll need a tax agent.
❓ Do I need a BAS agent if I already have a bookkeeper?
Yes, if your bookkeeper is not a registered BAS agent, they cannot legally lodge your BAS or represent you with the ATO.
❓ How much does a BAS accountant cost?
Costs vary based on complexity and frequency. Expect to pay:
- Quarterly BAS: $150 – $400
- Monthly BAS: $100 – $300 per month
- Full-service packages: Can include payroll and software support, usually $300 – $600/month
❓ Can I lodge BAS myself?
Yes, small business owners can lodge their own BAS through the ATO Business Portal or accounting software. However, errors can be costly, and hiring a BAS accountant adds assurance and professionalism.
Conclusion: Is a BAS Accountant Worth It? Absolutely.
If you’re a sole trader, freelancer, or small business owner trying to stay on top of GST, PAYG, and superannuation, a BAS accountant could be one of the best investments you make.
From saving time and reducing ATO-related stress to optimising your tax position and avoiding penalties, a good BAS accountant helps you take control of your business finances.
Ready to find a trusted BAS accountant? Use Finistry.com.au to search, compare and connect with verified professionals who can help you simplify your BAS reporting today.
Need Help With BAS?
Visit Finistry.com.au to find registered BAS accountants in your area and get your business finances in order before the next ATO deadline.
Leave a Reply