Change in practice structure

If you change how your practice is structured, you:

  • may need to apply for registration for the new business structure, which includes getting a new registration number to practise under
  • have to notify us within 30 days if there is a change to a partnership or company directors.
     

If you are a tax or BAS agent, you also need to notify the Australian Taxation Office (ATO) of any changes to your practice structure. When we approve your application for registration of a new structure, you should transfer your clients to the new structure. For further information refer Retiring, selling or restructuring your practice on the ATO website www.ato.gov.au

If you are an Australian financial services (AFS) licensee you also need to notify the Australian Securities and Investments Commission (ASIC) of changes to your business structure.


Changing from an individual to a company or partnership structure

If you are changing from an individual to a company or partnership structure, you will need to lodge an application with us to register the new company or partnership. (A company entity must first be registered with ASIC.)

Companies or partnerships registering as tax agents or BAS agents (or tax (financial) advisers using the standard option) must have a sufficient number of registered individual tax practitioners to provide tax agent, BAS or tax (financial) advice services to a competent standard and to carry out supervisory arrangements. It may therefore be appropriate for you to maintain your individual registration for this purpose.

For more information about company or partnership registration requirements, refer to:

 

If an individual tax (financial) adviser wants to change their structure to a company or partnership structure, they can, in addition to the standard option, use the transitional registration option. The transitional option does not require a company or partnership to meet the sufficient number requirement until they need to renew their registration.


Changes to a company or partnership registration

You must notify us in writing within 30 days of the day you become, or ought to become, aware of certain events occurring in relation to the registered company or partnership. This includes when:

  • a new director or partner (individual or company) joins
  • an existing director or partner (individual or company) leaves
  • the company or partnership ceases to meet one of the registration requirements
  • an event affecting the continued registration of the company or partnership occurs in respect of a director of the company, or an individual partner or a director of a company partner.
 

To advise us of changes, email us at enquirymanagement@tpb.gov.au and include relevant details such as:

  • the names of new directors or partners including a completed schedule of personal details form for those directors or partners who are not registered with us
  • the names of directors or partners leaving
  • the date of change or event
  • any impacts on the requirement to have a sufficient number of registered individual tax practitioners to provide tax agent, BAS or tax (financial) advice services to a competent standard and to carry out supervisory arrangements.
 

We will contact you if we require further information.

Trust structures

If you decide to operate or cease operating through a trust structure, you need to notify us in writing. In some circumstances, you may need to apply for a new registration.

For information, refer to our information sheet TPB(I) 03/2011 Agents conducting business in the capacity of trustee of a trust: registration considerations.

If you are unsure of registration requirements of trust structures, send us an email at enquirymanagement@tpb.gov.au including your registration number and contact details.


Further assistance

Email us at enquirymanagement@tpb.gov.au if you are considering other changes to your practice structure and require further assistance.



Last modified: 1 March 2016