Assistant Treasurer and Minister for Small Business Mark Arbib today said there are several thousand BAS and tax agents who need to apply to the Tax Practitioners Board (TPB) to renew their registration before it expires on 1 March 2012.
Senator Arbib said tax agents and BAS agents in business need to be registered with the Board to continue legally providing tax agent or BAS services for a fee or other reward.
"BAS and tax agents are an essential part of the tax system, with tax agents lodging more than 70% of income tax returns for individuals and more than 95% of business tax returns," Senator Arbib said.
"Agent registration is an essential element in regulating the profession and protecting consumers. It provides assurance and confidence to the community that their agent meets appropriate standards of professional and ethical conduct.
"BAS agents also need to be reminded that if they submit a complete application before their current registration expires, they will remain registered until they hear back from the TPB about their application. The TPB will accept renewal applications up to 29 February 2012."
Chair of the Tax Practitioners Board Dale Boucher said that a transitional registration is available for those BAS agents that don't think they will meet all the standard eligibility criteria by the time their current registration expires.
"This gives agents another 12 months to complete their standard educational or experience requirements needed to be a qualified BAS agent and be ready to renew early in 2013," Mr Boucher said.
BAS and tax agents are able to renew online via the website www.tpb.gov.au. For any questions regarding their registration or the renewal process agents can email firstname.lastname@example.org or call 1300 362 829.
Tax Practitioners Board Background
The TPB was established on 1 March 2010. It replaced the State based Tax Agents' Boards in regulating tax agents and now BAS agents.
The TPB plays an important role in helping to protect taxpayers who use the services of tax and BAS agents. It does this by registering agents, dealing with complaints and providing guidance on the professional and ethical standards to be observed by agents.
You can check whether an agent is registered by looking at the Tax Practitioners Board Register at www.tpb.gov.au.