Login
iscover
BAS agents can now legally assist clients with the JobKeeper payment and cash-flow support measures after the Tax Practitioners Board moved to extend their scope of services.
Newsletter
BAS services extended to COVID-19 measures
16 April 2020
•
8 minute read
The TPB has now registered a legislative instrument to allow BAS agents to provide certain services in relation to the government’s COVID-19 stimulus measures.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
BAS agents can now legally support Australian businesses by ascertaining and advising about their entitlements and liabilities under the $1,500 per fortnight JobKeeper payment and the up to $100,000 cash-flow support for business initiative.
Specifically, the legislative instrument declares services under the Boosting Cash Flow for Employers (Coronavirus Economic Response Package) Act 2020 and the Coronavirus Economic Response Package (Payments and Benefits) Act 2020 to be a BAS service.
The extension of services comes after the TPB moved to allow BAS agents to provide additional services related to the superannuation guarantee amnesty.
It comes after the enactment of the SG amnesty, now set to run until 7 September, giving employers a one-off chance to disclose any unpaid SGC without incurring the administration component or Part 7 penalty, and being able to claim a tax deduction for the amount paid.
The Tax Office has since confirmed that it cannot change the deadline for the SG amnesty, despite concerns that businesses will be unable to come forward because of the downturn caused by the coronavirus pandemic.
You are not authorised to post comments.
Comments will undergo moderation before they get published.