18 Jul 088 On the Tax Agent Services BillMEMBER 2 writes:
"I refer to the new regime for Tax Agents which requires that Tax Agents must take reasonable care. I have always checked new clients’ accounts and BAS before I lodge their Income Tax Returns because I have found that, whether they are completed by the client or a bookkeeper, they are always wrong and need to be amended (usually too much GST input credits have been claimed). But I know that many Tax Agents don't do this as they feel that if they didn't prepare the BAS then they are not responsible for its accuracy. Now with this new regime - reasonable care - relying on information provided - if a Tax Agent knows that the accounts and BAS have been completed by their client or a bookkeeper then it appears we are expected to ask to see the original documentation and check the accuracy of the accounts."