30 Nov 12 BAS Agents Advisory Group
On Friday 23 November 2012, Tax Counsel Stephanie Caredes CTA attended a meeting of the BAS Agents Advisory Group (BASAAG). Many issues were discussed as put forward by both the ATO and the BASAAG’s external members, including:
- Enhancements to the BAS agents’ Portal;
- Various GST “risk” areas identified and discussed by the BASAAG including in relation to fuel tax credits, the impact of the recent Qantas decision, the need for integrity in business systems accounting for GST and the availability of the “Property Page” and “GST Property Tool” to assist with identifying GST liabilities with respect to property transactions;
- An update from the Tax Practitioners Board in respect of BAS agents;
- Issues with record-keeping.
Agents may also find the fact sheet “GST and the integrity of your business systems” useful to assist their clients to ensure their systems properly capture their GST obligations.
Members requiring further information should contact us at Tax Policy.