Edition 70, August 2009

Draft tax agent regulations available

The final draft version of the regulations for the new national tax agents system has been released.

The Exposure Draft Tax Agent Services Regulations and explanatory material outline in detail what will be required from tax agents under the new regime.

The new national regulations aim to ensure consumers can be sure tax agent services meet the appropriate professional and ethical standards.

In particular, the exposure draft regulations contain:

  • the qualifications and relevant work experience requirements for registration as a tax agent or Business Activity Statement (BAS) agent under the new tax agent services regime
  • the application fees for registration as a tax agent or BAS agent
  • the requirements for recognition as a recognised professional association or recognised BAS agent association.

In the last year, the Rudd Government has taken the Tax Agent Services Act 2009 through Parliament and has been finalised and introduced into Parliament the Tax Agent Services (Transitional Provisions and Consequential Amendments) Bill 2009.

It is expected that the national tax agent regime will commence in full in early 2010.

For more information visit www.treasury.gov.au/contentitem.asp?NavId=037&ContentID=1589

Related articles:
Outcomes of 2008 Budget for training and productivity (Edition 56, May 2008)
$7 million in e-learning funding available (Edition 64, January/February 2009)
Consultation on training for margin lending (Edition 69, July 2009)
Draft tax agent regulations available (Edition 70, August 2009)

This page was generated on 28 September, 2010

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