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Preliminary guidance for payroll service providers

Preliminary guidance for payroll service providers - comments invited

Following feedback from key stakeholders, the Tax Practitioners Board (TPB) has released the second draft of an information sheet to help payroll service providers understand the tax agent services regime and whether they need to register as a tax or BAS agent.

The updated exposure draft includes information based on responses to the original exposure draft and the views of TPB Consultative Forum representatives from professional tax and BAS agent associations.

These views include recommendations to incorporate information about the recently finalised BAS services legislative instrument and also the education and relevant experience requirements.

The exposure draft outlines the:

  • circumstances where a payroll service provider may need to register as a tax agent or BAS agent
  • circumstances where they do not need to register
  • registration options available to payroll service providers. 

Acting Chair of the TPB, Mr Greg Lewis, says that based on the submissions received, the TPB may conduct further consultation before finalising the information sheet.

‘The revised payroll service provider exposure draft contains important additional information which will be of interest to these key stakeholders and we look forward to receiving their feedback on this second draft.’

Submissions on the exposure draft close on 3 October 2016, and can be sent to tpbsubmissions [at] tpb.gov.au. The exposure draft is available at TPB(I) D36/2016 Payroll service providers.

About the Tax Practitioners Board:

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct.

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Thursday, August 18, 2016