Tax Agent Services (Transitional Provisions and Consequential Amendments) Act 2009 (114 of 2009)

Schedule 2   Transitional provisions

Part 2   Continuation of existing registrations etc.

4   Special rule relating to the provision of tax agent services by certain entities

(1) If:

(a) immediately before commencement, an entity was providing a service that is a tax agent service (other than a BAS service within the meaning of the new law) but was not required to be registered as a tax agent under the old law; and

(b) during the 3 month period beginning immediately after commencement, the entity notifies the Board that the entity satisfies paragraph (a);

the entity is taken to be a registered tax agent within the meaning of the new law for the 2 year period beginning immediately after commencement.

Note 1: A registered tax agent within the meaning of the new law is registered under section 20-25 of the new law.

Note 2: Paragraph (b) - for the form of the notification, see item 25 of this Schedule.

(2) To avoid doubt, if an entity is taken to be a registered tax agent under subitem (1), the Board may, in accordance with the new law, do either or both of the following:

(a) impose conditions to which the entity’s registration is subject;

(b) require the entity to maintain professional indemnity insurance;

as if the entity had applied for registration and the Board had decided to grant the application.