ATO alerts tax agents in relation to overdue client lodgments
The ATO has advised that on 23 February 2011, it began sending letters titled “Lodgment alert for your clients’ overdue documents” to most tax agents, highlighting clients (other than large businesses and super funds) with overdue lodgment obligations. Each letter lists the companies, trusts, partnerships and individual clients with either of the following: overdue income tax ...more
Tax Agent Portal reports now show ATO interest amounts
The ATO has advised tax agents that Tax Agent Portal Pre-filling and Year to date (YTD) interest summary reports now display ATO interest amounts. These amounts had previously been unavailable in these reports while the ATO worked on system upgrades to ensure the reports aligned and displayed the most current amounts of ATO interest. Prior ...more
Tax and BAS agents must have Professional Indemnity insurance from 1 July 2011
Dale Boucher, Chair of the Tax Practitioners Board, has announced that from 1 July 2011, registered BAS and tax agents will need to have professional indemnity (PI) insurance coverage. Mr Boucher said that, while the Board had yet to undertake detailed research and consultations with stakeholders, the overall case for setting an insurance requirement was ...more
Tax agent services regulations
The Assistant Treasurer, Senator Nick Sherry, today [Fri 23.10.2009] announced the proposed final form of the Tax Agent Services Regulations 2009. The proposed Regulations contain key aspects of the tax agents’ services regime, including the qualifications and relevant work experience requirements for registration as a tax agent or BAS agent under the new tax agent services regime. They include new features that take account of submissions received during the final round of public
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