The primary duty of BAS Agent in Australia is to assist people and corporations in complying with tax rules. A tax accountant assists customers in optimizing immediate and long-term tax computation, minimizing tax liabilities, and complying with tax laws. It costs less and saves time if tax regulations are followed, as opposed to the expense and time required to resolve disputes in the event of non-compliance.

Employing a BAS Agent in Australia enables one to pay only the required taxes while avoiding tax liabilities. A BAS Agent in Australia can assist you in avoiding non-compliance.

Qualifications Needed in Australia to Perform the Job of a BAS Agent:

In Australia, a tax accountant must have an undergraduate degree in accounting or commerce. According to Section 288 of the Income Tax Act of 1961, Clauses (v) and (vi) of Subsection (2), the educational requirement stipulated for "Income Tax Practitioners" is simply completing an "Accountancy Examination" or having obtained a "Degree in Commerce or Law," respectively. Yet, some organizations require additional tax accounting education beyond a typical bachelor's degree in accounting.

What Exactly is Tax Accounting?

Tax accounting is a branch of accounting that focuses on the preparation of tax returns and payments rather than public financial statements. The Internal Revenue Code specifies the particular standards that businesses and individuals must follow while preparing their tax returns.

BAS Agent in Australia Career Opportunities in Australia:

In Australia, there are numerous well-paying and steady opportunities available for a BAS Agent in Australia with extensive expertise. They are employed by corporations, large tax consulting firms, accounting firms, insurance companies, and non-banking financial institutions. Many small enterprises, and high-income individuals, and, increasingly hire them.

At the entry level, with less than one year of experience, individuals can expect an annual total remuneration of roughly 3-4 lakhs. Furthermore, a freelancer might earn more than 6 lakhs per year after they establish a reputation in the market.

How BAS Agents in Australia are Growing With Digital Technologies?

The role of BAS Agent in Australia is broad, difficult, and challenging while also being entertaining. You can choose to become a BAS Agent at many points of your career, beginning with graduation and continuing on after you've tried your hand at other jobs. 

There is no shortage of institutions nowadays that offer courses to prepare you for a career as a tax accountant. This, combined with a ready employment market and attractive pay scales for BAS Agents in Australia, is encouraging the youth to pursue the career of a tax accountant in Australia.

Yet, as a BAS Agent in Australia, you must stay current not just with changes in tax rules, regulations, and policies, but also with growing smart and digital technologies. Smart software solutions, including cloud computing, will eventually replace old procedures. Lastly, tax accountants have a bright future as long as governments levy taxes.

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