Tax Laws Amendment (2013 Measures No. 3) Act 2013 (120 of 2013)

Schedule 1   Creating a regulatory framework for tax (financial) advice services

Part 1   Main amendments

Tax Agent Services Act 2009

42   Subsection 90-1(1)

Insert:

financial services licensee has the same meaning as in Chapter 7 of the Corporations Act 2001.

registered tax agent, BAS agent or tax (financial) adviser means an entity that is registered under this Act as a registered tax agent, a registered BAS agent or a registered tax (financial) adviser.

registered tax agents, BAS agents and tax (financial) advisers means the following:

(a) entities that are registered under this Act as registered tax agents;

(b) entities that are registered under this Act as registered BAS agents;

(c) entities that are registered under this Act as registered tax (financial) advisers.

registered tax (financial) adviser means an entity that is registered under this Act as a registered tax (financial) adviser.

Note: In most cases, an entity is taken not to be a registered tax (financial) adviser if the entity is suspended from providing tax (financial) advice services under section 30-25.

representative has the meaning given by paragraph (a) of the definition of that expression in section 910A of the Corporations Act 2001.

tax (financial) advice service has the meaning given by section 90-15.