Message from the Chair
I would like to take this opportunity to reflect on the last 6 months and on the transition into the new tax agent services regime since 1 March 2010.
The Board and the Secretariat who support the Board have all worked hard to take the first steps to create a national system for the registration of tax and BAS agents. We are committed to delivering a single and consistent agent registration and regulatory regime for the benefit of the Australian community.
New regime established
The 4 months since the commencement of the new regime have been busy and as we start the new financial year I would like to thank all those involved. For the agent community which we regulate, we are grateful for your participation and patience as we work towards bringing you and many new tax agents and BAS agents into the new regime.
I also want to again recognise the efforts, assistance and legacy of the previous State Tax Agents’ Boards. They were instrumental in providing the backbone of the new system. I also would like to acknowledge the ATO’s contribution in ensuring this transition into the new regime. While the Board is now the sole administrator of tax and BAS agent registrations, we anticipate a continuing strong working relationship with the ATO, just as we do with our other stakeholders.
Registrations
The Board have seen encouraging numbers of agents who have already engaged with the Board and taken up early transitional registration options, such as notification, as the below figures show.
Many of these transitional options are still available, in particular, BAS service providers and bookkeepers have until 31 August 2010 to notify the Board that they satisfy certain criteria to become registered. I encourage you to explore this notification method before time runs out. It offers the simplest method for registration.
While we are moving to the national system, and as we welcome BAS agents into our new regulatory framework, we are receiving large numbers of registration applications. We are processing the applications as quickly as possible and you will be contacted if there are any problems with your registration, as it is processed.
• Of pre-1 March 2010 work which the Board inherited, we have approved and finalised 7944 applications. Of these, 6634 are triennials (pre 1988 registrants), 821 are renewals and 489 are new registrations.
• For post-1 March 2010 work, we have received:
- 1081 new tax agent applications
- 1140 tax agent notifications
- 201 tax agent transitional applications
- 1792 tax agent renewals
- 1822 tax agent triennials
- 733 BAS agent applications
- 344 BAS agent transitional applications
- 4720 BAS agent notifications
• The Board has approved or finalised 11,830 applications.
Those registered agents who paid a registration fee between 1 March 2010 and 30 June 2010 will be receiving a tax invoice in coming weeks. No further payment is required and these invoices are for your records.
Consultations
I would like to mention some of the Board’s ongoing consultation activities with the profession.
• Since January 2010, 3 meetings of the Tax Practitioners Board Consultative Forum have been held. These forums establish ongoing arrangements with the professional associations and provide for an effective dialogue to gain a mutual understanding of issues and to help us to find solutions.
• We have had many other consultation meetings, with a variety of bodies, groups and individuals.
• Over the next 6 months the Board will be visiting every state capital for regular Board meetings and to meet local members of the tax and BAS agent professions. We are also holding focus groups to listen to the issues that BAS agents may have. The first visit to Perth in late June was a great success.
• We will shortly be commencing a round of consultations with stakeholders to develop the Board’s approach to professional indemnity insurance. We will be saying more about this in coming months.
Recognised professional associations
As at 9 July, the Board has accredited the following associations:
Recognised tax agent associations
• Association of Chartered Certified Accountants Australia and New Zealand
• Association of Taxation and Management Accountants
• CPA Australia
• Institute of Chartered Accountants in Australia
• National Institute of Accountants
• Taxation Institute of Australia
Recognised BAS agent associations
• Association of Accounting Technicians (Australia) Limited
• Association of Chartered Certified Accountants Australia and New Zealand
• CPA Australia
• Institute of Certified Bookkeepers
• Institute of Chartered Accountants in Australia
• National Institute of Accountants
Other applications for recognition by associations are being considered promptly, as and when they are received.
Exposure drafts
The Board have issued a number of exposure drafts dealing with:
• course in Australian taxation law;
• course in commercial law;
• course in basic accountancy;
• course in basic GST/BAS taxation principles;
• Written reports incorporating tax agent services;
• Code of Professional Conduct; and
• Fit and proper person.
We have had already received significant amounts of valuable feedback. I thank all those who have made comments and submissions, and look forward to working through the consultation process together. Further drafts will be published as we continue to clarify our position on these matters.
Busy next 6 months
As I look towards the second half of this year, I predict we will be just as busy as we have been over the last 6 months.
We understand that everyone wants the registration process to be quicker and we are working hard to achieve this. We want to provide greater certainty and develop our approach for education requirements. We will also aim to settle the Board’s broad approach to professional indemnity insurance. Another Board priority will be continuing to improve our website.
We appreciate your patience while we work through our peak registration periods and the one-off 6 month rush period for transitional notifications.
Thank you for taking the time to read through this message. Please let us have any feedback by contacting the Board at tpbwebsite@ato.gov.au.
Dale Boucher
Chair
Tax Practitioners Board
9 July 2010