In a message dated 12 May 2010, the Chair of the Tax Practitioners Board, Dale Boucher, emphasised that time is running out for potential tax agents to take advantage of the notification option to become registered. This notification option will end on 31 May 2010.
The tax agent services regime regulates a broader range of services than the previous law, including a wider range of sanctions against agents providing services while unregistered, including civil penalties. It is important that entities, including individuals, are aware of the process to become registered.
In his message, Mr Boucher outlined the three ways in which a potential tax agent can become registered:
- Notify under Special Rule 4 (transitional notification) – option available until 31 May 2010
- Apply under Special Rule 13 (transitional application) – option available until 31 August 2010
- Apply under the TASA (standard application) – options are always available