Tax Agent Services Act 2009

PART 2 - REGISTRATION  

Division 20 - Registration  

Subdivision 20-A - Eligibility for registration  

SECTION 20-5   Eligibility for registration as registered tax agent, BAS agent or tax (financial) adviser   Individuals

20-5(1)  


An individual, aged 18 years or more, is eligible for registration as a * registered tax agent, BAS agent or tax (financial) adviser if the Board is satisfied that:


(a) the individual is a fit and proper person; and


(b) the individual meets the requirements prescribed by the regulations (including, but not limited to, requirements relating to qualifications and experience) in respect of registration as a registered tax agent, BAS agent or tax (financial) adviser; and


(c) in the case of registration which is not a renewal - the individual maintains, or will be able to maintain, professional indemnity insurance that meets the Board ' s requirements; and


(d) in the case of a renewal of registration - the individual:


(i) maintains, at the time of applying for registration, professional indemnity insurance that meets the Board ' s requirements; and

(ii) has completed continuing professional education that meets the Board ' s requirements.
Note 1:

An individual in the capacity of trustee of a trust can be registered: see section 70-15 .

Note 2:

Subsection (4) provides for an exception to paragraph (1)(b) for pre-1988 tax agents and nominees.

Partnerships

20-5(2)  


A partnership is eligible for registration as a * registered tax agent, BAS agent or tax (financial) adviser if the Board is satisfied that:


(a) each partner who is an individual is:


(i) aged 18 years or more; and

(ii) a fit and proper person; and


(b) if a company is a partner:


(i) each director of the company is a fit and proper person; and

(ii) the company is not under external administration; and

(iii) the company has not been convicted of a * serious taxation offence or an offence involving fraud or dishonesty during the previous 5 years; and


(c) the partnership has:


(i) in the case of registration as a * registered tax agent - a sufficient number of individuals, being registered tax agents, to provide * tax agent services to a competent standard, and to carry out supervisory arrangements; or

(ii) in the case of registration as a * registered BAS agent - a sufficient number of individuals, being registered tax agents or BAS agents, to provide * BAS services to a competent standard, and to carry out supervisory arrangements; or

(iii) in the case of registration as a *registered tax (financial) adviser - taking into account the requirements of paragraphs 912A(1)(d) to (f) of the Corporations Act 2001 , a sufficient number of individuals, being registered tax agents or registered tax (financial) advisers, to provide *tax (financial) advice services to a competent standard, and to carry out supervisory arrangements; and


(d) in the case of registration which is not a renewal - the partnership maintains, or will be able to maintain, professional indemnity insurance that meets the Board ' s requirements; and


(e) in the case of a renewal of registration - the partnership maintains, at the time of applying for registration, professional indemnity insurance that meets the Board ' s requirements.

Companies

20-5(3)  


A company is eligible for registration as a * registered tax agent, BAS agent or tax (financial) adviser if the Board is satisfied that:


(a) each director of the company is a fit and proper person; and


(b) the company is not under external administration; and


(c) the company has not been convicted of a * serious taxation offence or an offence involving fraud or dishonesty during the previous 5 years; and


(d) the company has:


(i) in the case of registration as a * registered tax agent - a sufficient number of individuals, being registered tax agents, to provide * tax agent services to a competent standard and to carry out supervisory arrangements; or

(ii) in the case of registration as a * registered BAS agent - a sufficient number of individuals, being registered tax agents or BAS agents, to provide * BAS services to a competent standard, and to carry out supervisory arrangements; or

(iii) in the case of registration as a *registered tax (financial) adviser - taking into account the requirements of paragraphs 912A(1)(d) to (f) of the Corporations Act 2001 , a sufficient number of individuals, being registered tax agents or registered tax (financial) advisers, to provide *tax (financial) advice services to a competent standard, and to carry out supervisory arrangements; and


(e) in the case of registration which is not a renewal - the company maintains, or will be able to maintain, professional indemnity insurance that meets the Board ' s requirements; and


(f) in the case of a renewal of registration - the company maintains, at the time of applying for registration, professional indemnity insurance that meets the Board ' s requirements.

Note:

A company in the capacity of trustee of a trust can be registered: see section 70-15 .

Special rule about pre-1988 tax agents

20-5(4)  
An individual is eligible for registration as a * registered tax agent even if the Board is not satisfied that the individual satisfies the requirements mentioned in paragraph (1)(b) if:


(a) the individual was registered as a tax agent or as a nominee for the purposes of Part VIIA of the Income Tax Assessment Act 1936 (as in force immediately before the commencement of item 7 of Schedule 1 to the Tax Agent Services (Transitional Provisions and Consequential Amendments) Act 2009 ) at both of the following times:


(i) immediately before the commencement of this Act;

(ii) immediately before the commencement of section 39 of the Taxation Laws Amendment Act (No. 2) 1988 ; and


(b) the individual is otherwise eligible for registration as a registered tax agent.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.