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
• a legislated Code of Professional Conduct to govern the provision of tax agent and BAS services
• a wider range of disciplinary sanctions which may be imposed by the Board
• registration and regulation of tax agents and BAS agents and
• a 'safe harbour' for taxpayers from penalties who use tax agents or BAS agents in certain circumstances.

The Tax Agent Services Regulations 2009 provide:

• requirements for registration as a tax agent and a BAS agent
• definitions and requirements for recognition as a recognised tax agent association and recognised BAS agent association and
• fees for registration.

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;
• preparing or lodging on behalf of a taxpayer an objection against an assessment, determination, notice or decision under a taxation law;
• applying to the Commissioner for a review of, or instituting an appeal against, a decision on an objection;
• giving a taxpayer advice about a taxation law that the taxpayer can reasonably be expected to rely upon to satisfy their taxation obligations; and
• dealing with the Commissioner on behalf of a taxpayer.

TIP
If you are providing tax agent services it is time to consider the new regime in detail.


Do you meet the registration requirements?

To be eligible to register, an entity must satisfy:

• a fit and proper person test; and
• prescribed qualification and education requirements.

If you wish to discuss the new Tax Agent Services Regime, please contact Warwick Gilbertson at Turnbull Hill Lawyers on
4904 8000 or send him an email.






 


Author: Warwick Gilbertson

Contact Us Now

We respond in 24 hours or less

Please provide details regarding your matter so we can assist you

Enquiry Form

Fill out our enquiry form and we'll respond within 24 hours

Listen to the captcha
 
Publications

Small business owners could benefit from the recent changes made to unfair contract laws

There are currently over 2 million small businesses and franchises in Australia. If you are the owner of one of these small business or franchises then you could benefit from new laws designed to protect small businesses from unfair terms in standard form contracts. The new laws came into effect on 12 November 2016. The new provisions will ap...

Read More ...

What if you separate and one person refuses to move out?

It is difficult enough when, for whatever reason, a couple separates. It is an even worse situation when one person refuses to move out of the home. It might be the case that one person can't afford to move out and pay rent somewhere until they have received their share of a property settlement or there are young children involved who nee...

Read More ...

Drinking & Driving During the Holidays: Risks & reminders to ensure you have a safe holiday season

DON'T DRINK AND DRIVE NOT EVEN THE MORNING AFTER A BIG NIGHT OUT LOSE YOUR LICENCE AND POSSIBLY YOUR JOB!!! With end of year parties, family gatherings and celebrations regularly involving alcohol, road users need to be extra vigilant in making appropriate plans for transport. When individuals drink and drive it increases the ri...

Read More ...

You may want to remind your staff about what is acceptable behaviour at the Christmas Party...

DRAFT EMAIL TEMPLATE FOR EMPLOYERS STAFF CHRISTMAS PARTY EMAIL This draft email was written for employers wanting to remind staff about what is acceptable behaviour. DRAFT EMAIL - IMPORTANT MESSAGE EVERYONE MUST READ

Hi everyone,

As you are aware the Christmas Party is being held at (insert venue) tonight from (insert ...

Read More ...

If I move out, does my ex get to keep the house?

When a marriage unfortunately breaks down, in most situations it is necessary for one of the parties to find somewhere else to live. Most of us are not lucky enough to own a property with two houses on it, one for each of you! A common misconception is that if you move out of the home and leave your ex there, you are giving up your share ...

Read More ...

Previous | 1 2 3 4 5 6 7 8 9 10 | Next


Events
Blogs
"Thanks again John (Teague) for your professiona...

Alex A, Lake Macquarie

Liability limited by a scheme approved under Professional Standards Legislation

enquiries@turnbullhill.com.au