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26 Nov 09 New tax agent services regime will commence on 1 March 2010

In a media release issued on 26 November 2009, the Assistant Treasurer, Senator Nick Sherry, announced that the new tax agent services regime will commence on 1 March 2010.

"These historic reforms have been two decades in the making and industry has been eagerly awaiting the announcement of the start date," the Assistant Treasurer said. "March 1 [2010] will be the date that the new national regulatory regime for the provision of tax agent services will commence."

"Industry has approached me during the last few months and requested a start date slightly later than 1 January, and I have accepted their need for more time to prepare. A March 1 commencement delivers the right outcome and will give agents and the Tax Practitioners Board itself sufficient time to make the necessary preparations for the new regime," the Assistant Treasurer said.

The Assistant Treasurer also welcomed the announcement that the Tax Practitioners Board will establish a Consultative Forum of stakeholders through which it will undertake a detailed industry consultation on transitional issues.

"I welcome the Board's commitment to engage with industry and stakeholders on the transitional arrangements – all interested parties should get involved where possible,"  the Assistant Treasurer said.

In a media release issued the same day, the Chair of the Tax Practitioners Board, Dale Boucher, welcomed the announcement by Assistant Treasurer, Senator Nick Sherry, of the official commencement date of the new Tax Agent Services regime as 1 March 2010. To assist with the transition to the new system, Mr Boucher said the Tax Practitioners Board will be establishing a Consultative Forum of stakeholders to make the transition to the new regime as smooth as possible.

For a copy of the Minister's media release, No 2009/096, go here

For a copy of Mr Boucher's media release, 26 November 2009, go here

 


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