14 May 13 Notify the Board now of changes in practice structure
The Tax Practitioners Board (TPB) has encouraged tax and BAS agents to notify it as soon as possible if they are changing their practice structure. A change in practice structure could include:
- changing from an individual to a partnership
- changing from an individual to a company
- changes to a partnership
- changes to company directors.
If an agent is creating a new business structure they need to register the entity. A new registration application can take some time to process depending on its complexity. So it is important that they notify the TPB now if they want the changes effective for 1 July 2013.