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Law changes from 1 January 2021

18 December 2020

Law changes from 1 January 2021

Some changes to the Tax Agent Services Act 2009 will take effect from 1 January 2021. These changes are part of Treasury’s regular amendments process to ensure the law operates as intended.

An overview of the law changes affecting registered tax practitioners is summarised in the table below:

Areas of change Pre-January 2021 From 1 January 2021
Professional indemnity (PI) insurance When seeking to renew your registration, you must demonstrate that you maintain, or will be able to maintain, PI insurance that meets our requirements.

When seeking to renew your registration, you must demonstrate, at the time of applying for renewal, that you maintain PI insurance that meets our requirements.

This law change will apply to all renewal applications on hand, but not decided from 1 January 2021.
 

Lodgement of registration renewal application

You must apply to renew your registration at least 30 days before it expires or within a shorter period as the Board allows.

Once you submit your renewal application, your registration is taken to continue until the application has been decided.
 

You must apply to renew your registration at least 30 days, but not more than 90 days, before your registration expires.

Once you submit your application, your registration is taken to continue until the application has been decided, or you withdraw your application, whichever occurs first.

This law change will apply to all renewal applications on hand but not decided from 1 January 2021.
 

Surrender of registration with no formal investigation on foot If you request to surrender your registration, we need not terminate your registration if we consider that due to a current investigation or the outcome of an investigation, it would be inappropriate to do so. In addition to pre-January 2021 position, we may also refuse to accept your surrender request if we start to investigate you within 30 days of receiving the surrender notice and we consider that it would be inappropriate to terminate your registration.
Service of notices You must notify us if there is a change to your business or email address.

You must notify us if there is a change in the address for service of notices. 

Address for service includes a physical, postal or an electronic address given to us. 

If there is more than one address given to us, the address for service is one that we consider reasonable. 

If an address for service is not given to us, the address for service is the one that we reasonably believe is the address. 
 

How documents may be given No requirements exist.

The following outlines how a document may be considered to be given:

For individuals:

  • by delivering personally, or
  • by leaving it at, or posting it to the last known residential or business address of the individual.

For a company or partnership entity:

  • by leaving it at, or posting it to the head office, registered office or a principal office of the entity
  • by sending it to an electronic address for service provided to us for the entity.

For a company that has a liquidator or an administrator appointed: 

  • by leaving it at or posting it to the address of the liquidator or administrator as found in the most recent notice of that address lodged with Australian Securities and Investments Commission (ASIC).

 

Further information

We will provide further information about these changes on our website and through our usual communication channels.


Last modified: 18 December 2020