Commonwealth of Australia Explanatory Memoranda

[Index] [Search] [Download] [Bill] [Help]

TAX AGENT SERVICES (TRANSITIONAL PROVISIONS AND CONSEQUENTIAL AMENDMENTS) BILL 2009

2008-2009

               THE PARLIAMENT OF THE COMMONWEALTH OF AUSTRALIA


                          HOUSE OF REPRESENTATIVES


        TAX AGENT SERVICES (TRANSITIONAL PROVISIONS AND CONSEQUENTIAL
                            AMENDMENTS) BILL 2009


                    SUPPLEMENTARY EXPLANATORY MEMORANDUM


              Amendment to be moved on behalf of the Government


                     (Circulated by the authority of the
                      Treasurer, the Hon Wayne Swan MP)






         Explanation of amendment


      1. The amendment ensures that the Tax Practitioners Board (the Board)
         is able to register all entities that have transitioned into the
         new regime as registered BAS agents under item 5 for a period of at
         least 12 months if they seek a further period of registration
         without having the necessary qualifications (as permitted under
         item 14).


      2. Item 5 allows entities that have been providing BAS services before
         commencement of the new regime to be taken to be BAS agents for the
         period of two years from commencement.


      3. Under subitem 14(2) the Board can only impose the 12 month minimum
         registration period on those entities that are, at the time of
         seeking to rely on item 14, taken to be a registered BAS agent by
         virtue of item 5.  It would not extend to those entities who had
         been registered under item 5 but whose registration had
         subsequently lapsed.  Consequently, entities that allow their
         registration to lapse could get up to a further three years minimum
         to practice, without the necessary qualifications.  This result is
         unintended.


      4. This amendment will ensure that entities accessing the transitional
         provisions do not gain an unintended advantage over other entities
         by allowing their registration to lapse after the end of the two-
         year period and then reapplying for registration shortly
         thereafter.