New Tax Practitioners Board to start
The new Tax Practitioners Board is gearing up to commence operations in March 2010.
The Chair of the Tax Practitioners Board, Dale Boucher, welcomed today’s announcement by Assistant Treasurer, Senator Nick Sherry, of the official commencement date of the new Tax Agent Services regime as 1 March 2010.
“In March 2010 we will have a single national system to regulate tax agents and for the first time those providing Business Activity Statement (BAS) Services for a fee” Mr Boucher said. “The new system will be administered by the Tax Practitioners Board (TPB) which was named in late October 2009 to replace the six existing state-based Tax Agents’ Boards.”
The first planning meeting of the TPB will take place in Canberra on 10 December 2009. Dale Boucher said that the Tax Practitioners Board will be consultative in its approach. It will also meet regularly around Australia.
Dale Boucher also noted that there are extended arrangements to bring BAS agents into the new system. “All they will need to do is to notify the Tax Practitioners Board up to the end of August 2010. They will then be taken to be registered”.
To assist with the transition to the new system, Mr Boucher said the TPB will be establishing a Consultative Forum of stakeholders to make the transition to the new regime as smooth as possible.
“In particular, we would like to develop strategies with representatives so that BAS providers in business come forward and notify us and are registered in the transitional period”. Mr Boucher then pointed out that where necessary the BAS providers will have up to two years to gain requisite qualifications.
For information on the new regime and how it affects you go to the Tax Practitioner Board website www.tpb.gov.au.