Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 (37 of 2024)

Schedule 3   PwC response - Tax Practitioners Board reform

Part 1   Information on the register

Tax Agent Services Act 2009

1   Subsections 60-135(1) to (3)

Repeal the subsections, substitute:

(1) The Board must establish, and maintain, a register of entities in accordance with this Act and the regulations made for the purposes of this subsection.

(2) Each entity that is a *registered tax agent or BAS agent must be entered on the register for the period during which the entity is a registered tax agent or BAS agent.

Note: Another provision of this Act, or regulations made for the purposes of subsection (1), may requirean entity that is not a registered tax agent or BAS agent to be entered on the register for a period.

(3) Without limiting the regulations that may be made for the purposes of subsection (1), those regulations may do the following:

(a) require an entity to be entered on the register for a specified period;

(b) if an entity is required (whether by this Act or by the regulations) to be entered on the register for a period - requirespecified information in respect of the entity to be entered on the register for some or all of that period.

Entities that are not registered tax agents or BAS agents

(3A) An entity that is not a *registered tax agent or BAS agent, and information in respect of such an entity:

(a) must not be entered on the register; and

(b) must not remain entered on the register;

except as requiredby this Act or by regulations made for the purposes of subsection (1).

Availability of register