News Item
BAS Agent Legislation Looms Closer
Posted: 29/10/2009
On 23 October, the Assistant Treasurer, Senator Nick Sherry, announced the composition of the Tax Practitioners Board which will regulate and administer the introduction of the Tax Agent Services Act 2009, the legislation which encompasses the BAS Agent regime. Senator Sherry also announced the proposed final form of the Tax Agent Services Regulations 2009.
The announcement took place at a lunch at the head office of the Institute of Chartered Accountants in Sydney. Darren Hagarty represented ABN at the event. Click here to read the Assistant Treasurer's Press Release, which includes the composition of the Board. On that score, ABN were delighted that both Matthew Addison and Russell Smith were appointed as Board members in part-time capacities. We have been closely involved with both Matthew and Russell in a number of advisory groups, consultative forums and industry working parties over the years, and thus had no hesitation in tendering references to Treasury in support of the application of each of these two gentleman.
It seems likely that the BAS Agents regime will commence in January 2010, although one of the three pieces of legislation which make up the regime - namely the Tax Agent Services (Consequential and Transitional Provisions) Bill 2009 - is still before parliament.
By visiting the BAS Agents Legislation page of our website, you can find out more about this important piece of legislation. If your time is limited, you can quickly get across the issue by reading our one page document entitled Quick Read - The Proposed BAS Agent Legislation
ABN will be contacting you further over the coming weeks with additional guidance on the impact of the BAS Agents Service regime on your business.
Kind regards,
The ABN Team www.austbook.net