New Tax Agent Services Regime commenced 1 March 2010 - do you need to register?
This regime will affect all tax and BAS agents providing tax agent or BAS services. This includes, but is not limited to persons providing tax advice, ascertaining tax liabilities, entitlements or obligations and representing clients in dealings with the Commissioner. This will affect accountants, bookkeepers and some lawyers.
The new regime is intended to ensure that tax agent services and BAS services provided to taxpayers are of an appropriate standard.
Some of the key legislative elements of the new regulatory regime are summarised below.
The Tax Agent Services Act 2009 provides for:
• The establishment of the new national Tax Practitioners Board
• requirements for registration as a tax agent and a BAS agent
It is essential that all tax practitioners and BAS agents understand the new regime and the impact it will have on them.
Do you need to register?
For tax agents, the answer to this question will depend on whether they are providing “tax agent services”.
A “tax agent service” includes, but is not limited to:
• preparing or lodging a return, notice, statement, application or other document about a taxpayer’s liabilities, obligations or entitlements under a taxation law;
To be eligible to register, an entity must satisfy:
• a fit and proper person test; and
If you wish to discuss the new Tax Agent Services Regime, please contact Warwick Gilbertson at Turnbull Hill Lawyers on
Author: Warwick Gilbertson