Tax Agent Services Act 2009
August 2010
How to register as a BAS agent
Employees who provide a BAS service to their employer on the books of that employer are NOT required to register with the Board.
All entities seeking to be registered as a BAS agent must meet the fit and proper person requirements.
There are 3 Options to choose from:
Option A TRANSITIONAL NOTIFICATION – OPEN UNTIL 31 AUGUST 2010
- Available if you have been providing a BAS service before 1 March 2010 and you notify the Board.
- Your registration will be for two years, back dated to take effect from 1 March 2010 until 29 February 2012.
No application fee payable.
Option B TRANSITIONAL APPLICATION – OPEN UNTIL 28 FEBURARY 2013
- Available if you have been providing a BAS service to a competent standard and for a reasonable period before making the application.
- Individuals do not need to meet the qualifications and experience requirements to make this type of application.
- Partnerships and companies do not need to meet the sufficient number of individual requirements.
- Registration may be granted for a period of time ranging from 12 months to 3 years depending on when the Board decides your application. You can not legally provide a BAS service prior to approval of your registration.
- The application fees for BAS agent transitional applications are:
$100 - for registration as a BAS agent who carries on a business.
$50 - for registration as a BAS agent who does not carry on a business.
Option C STANDARD APPLICATION – ALWAYS AVAILABLE
- You must meet the standard registration requirements, in particular relating to qualifications and experience.
- You will be registered for three years from the day the Board decides your application. You cannot legally provide a BAS service prior to approval of your registration.
- The application fees for BAS agent standard application are:
$100 - for registration as a BAS agent who carries on a business.
$50 - for registration as a BAS agent who does not carry on a business.
NOTE: if you provide services under a partnership or company structure, then the entity applying will need to have a sufficient number of individuals who are registered as BAS agents. This is to ensure that services are provided to a competent standard and to allow supervision. If you do not have sufficient numbers then you may need to apply to register as an individual for the purposes of a, partnership or company registration. See the terms explained for more information.
15/01/2010
Tax Agent Services Act 2009 begins on the 1st March 2010.On the 23 Dec 2009 the Board was to prepare guidelines for professional indemnity insurance and continuing professional development - there is a media release to read. More information is available on their website www.tpb.gov.au
Assistant Treasurer, Senator Nick Sherry, announced that the Tax Agent Services Act 2009 would commence on 1 March 2010. You can find the announcement here.
What does that mean for you? It allows time to prepare - academic qualifications, professional indemnity insurance, polices, procedures, registration with the Tax Practitioners Board.
Tax Practitioners Board - Fact Sheets
The Tax Practitioners Board has released Fact Sheets for Tax Agents and BAS Agents. Our focus as bookkeepers is with the BAS Agents Fact Sheets and they are a must read especially if you are need to register as a Transitional BAS Agent.
The Board has a registration process for people who are classified as a Transitional BAS Agent under the Transitional Bill (this is for bookkeepers who do not yet have their academic qualification's).
Keep the website of the Tax Practitioners Board bookmarked and keep posted as they, over the coming months, post more and more on their website. www.tpb.gov.au