In a media release issued on 2 August 2009, the Assistant Treasurer, Senator Nick Sherry, announced the release for public comment of a final version of the Regulations for the new national tax agents system. The Exposure Draft Tax Agent Services Regulations and explanatory material outline in detail what will be required from tax agents under the new regime.
In particular, the exposure draft Regulations contain:
- 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.
"I can confirm for industry and the community that we are on track for a start to the full regime in early 2010," the Assistant Treasurer said.
The closing date for submissions is Wednesday, 26 August 2009.
For a copy of the media release, No 2009/020, 2 August 2009, go here
For a copy of the Exposure Draft and explanatory material, go here