The new BAS Tax Agent Legislation has come into effect 1st March 2010 and it is likely to have an impact on you. It sets the new standards for BAS and Tax Agents.
The new Tax Practitioners Board says that "Bookkeepers who prepare business activity statements (BAS) other than as employees will be required to register as BAS agents. To help them transition into the new arrangements, those who have been providing BAS services immediately before 1 March will be able to register by notifying the board within six months."
There is a FAQ section on the website which explains the changes in detail including arrangements for transitional agents.
From now on when you use the services of a bookkeeper you will need to be sure that they meet certain requirements including registration and experience levels. From 1 July 2011 BAS Agents will need to have professional indemnity insurance.
If you use the services of a bookkeeper you need to familiarise yourself with these changes for your own protection.
For more information, please visit the Tax Practitioners Board website at http://www.tpb.gov.au/.
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