New Rules for Tax Agents and Bookkeepers

New legislation comes into effect on 1st March, 2010 that affects tax agents and BAS service providers. The Tax Agent Services Act 2009 establishes the new Tax Practitioners Board (TBP) that provides for registration of tax agents and BAS agents.

This affects tax agents and those providing a service for completing a BAS in return for a fee (ie. bookkeepers). However, anyone providing BAS services for an employer – and receiving a wage in payment – are not required to register.

So while, in the past, bookkeepers have not required qualifications/memberships to practice, this legislation creates a minimum standard of competency that bookkeepers require.

From March 1st, 2010 you need to register with the Tax Practitioners Board by completing their application and providing necessary documentation. There are eligibility requirements but also transitional arrangements in place for a six month period, starting from March 1st, 2010.

For further information and to determine your eligibility for registration you should visit the Tax Practitioners Board website in particular the FAQ page. Don’t bury your head in the sand on this one, time delays could affect your eligibility particularly under the transitional arrangements.

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1 Response to New Rules for Tax Agents and Bookkeepers

  1. Team Leader says:

    If you are a bookkeeper or BAS Agent who works for herself, you can now claim your free listing in Australia’s largest and most dominant bookkeepers and BAS Agents directory, Bookkeepers Direct. This new legislation is good news for those who take the time to obtain professional qualifications and register, as in the longer term the cost of bookkeeping will certainly rise – meaning more profitability for independent bookkeepers.

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