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NEW RULES FOR CHANGES TO BAS AGENTS’ PRACTICES

Saturday, 23 September 2017

The Tax Practitioners Board has updated its requirements for BAS Agents making changes to the business structure of their BAS agent practice.

The TPB said that under its new requirements BAS Agents who make changes to their practice structure must:
• let the TPB know about the change, as Agents may need to apply for registration for the new business structure, including a new registration number to practise under
• notify the TPB within 30 days if there is a change to a partnership or company directors
• notify the Australian Taxation Office (ATO) of any changes to their practice structure
• advise their clients about any practice structure changes.

The TPB said “If we approve the registration of your new business structure, you must obtain your clients' permission before transferring them to the new business structure.”

The TPB website contains details (see below) about:
• Changing from an individual to a company or partnership structure
• Changes to a company or partnership registration
• Changes involving trust structures

 

Further information

TPB: Change in BAS agent practice structure

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