24 Jan 13 Removing the commercial law course requirement for certain tax agents
In a media release dated 21 January 2013, the now retired Chair of the Tax Practitioners Board (TPB), Dale Boucher, advised that the TPB will notify affected tax agents directly of recent changes to transitional rules,
This refers to the announcement by the Assistant Treasurer, David Bradbury, on 14 December 2012 that the Government would permanently extend existing transitional rules for certain tax agents who became registered by the Tax Practitioners Board before 1 September 2010.
“A limited number of tax agents who became registered under the previous tax agent registration provisions in the Income Tax Assessment Act 1936 were not required to have completed a course in commercial law when they first registered,” said Mr Boucher.
The tax agents concerned are registered tax agents and former nominees of agents who were previously registered by a State Tax Agents’ Board through regulations 156(4) and (5) of the Income Tax Regulations 1936.
“From 1 March 2013, any other individuals applying for registration or renewal under the Tax Agent Services Act 2009 (TASA) may still, depending on which eligibility item they apply under, need to show that they have completed a Board approved course in commercial law.” Mr Boucher said.
Mr Boucher said that the TPB is working with Treasury and the Government to assist with making amendments to the legislative framework to achieve this result.