Exposure Draft - Tax Agent Services Regulations and Explanatory Statement

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Abstract:

The Assistant Treasurer, Senator the Hon Nick Sherry, has released for public consultation an exposure draft Tax Agent Services Regulations and the associated explanatory statement.

The exposure draft Regulations will be made under the Tax Agent Services Act 2009, which received the Royal Assent in March 2009. The draft Regulations form part of the new tax agent services regime, which will ensure that tax agent services provided to the public for a fee are provided in accordance with appropriate professional and ethical standards.

Key elements of the exposure draft Regulations include:

• the qualifications and relevant work experience requirements for registration as a tax agent or Business Activity Statement (BAS) agent under the new tax agent services regime;
• the application fees for registration as a tax agent or BAS agent; and
• the requirements for recognition as a recognised professional association or recognised BAS agent association.

Making a submission

Interested parties are invited to comment on the paper. While submissions may be lodged electronically, by post or by facsimile, electronic lodgment is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence.  Automatically generated confidentiality statements in emails do not suffice for this purpose.  Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.  A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Wednesday, 26 August 2009

Address written submissions to:
General Manager
Business Tax Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Email:  taxagentservices@treasury.gov.au

Facsimile: (02) 6263 4466

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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