Treasury Laws Amendment (2018 Measures No. 1) Regulations 2018 (F2018L00831)
Schedule 2 Tax Practitioners Board funding
Tax Agent Services Regulations 2009
1 Regulation 9
Repeal the regulation, substitute:
9 Application for registration - processing fees
(1) For the purposes of paragraph 20-20(2)(b) of the Act, the fee for an application to the Board for registration is set out in the following table.
Note: The period of registration is for at least 3 years: see subsection 20-25(4) of the Act. Registration may be renewed with effect from when current registration expires: see section 20-50 of the Act.
|
Item |
For an application for this type of registration … |
the fee is … |
|---|---|---|
|
1 |
registration as a tax agent |
$675 (subject to indexation under subregulation (2)) |
|
2 |
registration as a BAS agent |
$135 (subject to indexation under subregulation (2)) |
|
3 |
registration as a tax (financial) adviser |
$540 (subject to indexation under subregulation (2)) |
Annual indexation of fees
(2) On 1 July 2019 and each 1 July following that day (an indexation day ), the dollar amount mentioned in an item of the table in subregulation (1) is replaced by the amount worked out using the following formula:
(3) The indexation factor for an indexation day is the number worked out using the following formula:
where:
index number , for a quarter, means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) first published by the Australian Statistician for the quarter.
quarter means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December.
(4) An indexation factor is to be calculated to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
(5) If an indexation factor worked out under subregulations (3) and (4) would be less than 1, that indexation factor is to be increased to 1.
(6) Amounts worked out under subregulation (2) are to be rounded to the nearest whole dollar (rounding 50 cents upwards).