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Tax Agent Services Regime

Published on 17 Nov 2009 | Took place at Mercure Hotel, Geelong , National

This free event, "Roadshow 1", was aimed at all practitioners providing tax agent services. This includes those providing tax advice, ascertaining tax liabilities, entitlements or obligations, and representing clients in dealings with the Commissioner including accountants, lawyers, partnerships and companies.

With the new Tax Agent Services Regime taking effect from early 2010, all practices, partnerships and companies need to review their structures and procedures to ensure they are not in breach of any of the new rules.

This event was run throughout the country during November.

Individual sessions

Getting your practice ready for the new Tax Agent regulatory scheme

Author(s):  Dr Michael DIRKIS

This paper covers:

  • registration requirements and transitional arrangements
  • implications for the structures that can be used including trusts, partnerships and companies
  • adequate supervision and control of employees and contractors
  • what you need to do if you are outsourcing to related entities, Australian entities and offshore entities
  • your obligations under the Code of Professional Conduct
  • updating engagement letters and ensuring instructions are adequate
  • safe harbour provisions for your clients
  • penalties for taxpayers relying on tax agents versus sanctions on tax agents for breach of the Code
  • how to keep up-to-date. 
Materials from this session: