On 7 May 2007, the draft Tax Agent Services Bill was released and is currently in its second exposure draft. A key feature of the Bill is the registration and regulation of BAS services. The draft legislation calls for the introduction of a new breed of intermediary to be known as “BAS Agents”. Bookkeepers wishing to provide BAS Services to their clients under the new legislation will need to become BAS Agents and be registered by a National Tax Practitioners Board. ABN has been at the forefront of the changes and regularly consults with both the Department of Treasury and the Tax Office.
Because the BAS Agent legislation stands to greatly affect the industry, ABN has put together a suite of resources to assist bookkeepers in gaining an understanding of the proposed changes. These include a Quick Read Summary, a BSP Decision Flowchart, a brochure outlining the opportunities for bookkeepers under the so-called Transitional Rules, and a White Paper examining the legislation in depth. We also produce regular email-based BAS Agent Updates to keep our members apprised of any developments.
Please visit our
BAS Agent Legislation page to access these resources and don’t hesitate to contact Leanne Lewis of our office if you would like to discuss the potential impact of this legislation to you.
ABN South East Queensland Coffee Clubs