BAS agents can now legally support Australian businesses by advising about their entitlements under the new JobKeeper payment and cash flow support for business initiatives, the TPB announced on Thursday.
TPB chair, Ian Klug, said the legislative instrument makes it clear that BAS agents can lawfully advise on the government’s stimulus measures for business. This is something they would have previously been unable to lawfully do, without the requirement to be a registered tax agent.
“This reflects a sensible and appropriate outcome to support the government’s initiatives,” Mr Klug said.
“The TPB is working to support the extraordinary efforts of all registered tax practitioners acting professionally and ethically to assist Australian workers and businesses, especially in understanding these stimulus entitlements.”
Mr Klug said the issuing of the legislative instrument provides a timely reminder to all Australians who use a tax practitioner, to ensure that they are registered with the TPB.
The legislative instrument also sets out that BAS agents still need to abide by the Code of Professional Conduct in the TASA 2009.
It also reminds agents that if they do not have the requisite skills and expertise to provide the services listed under the instrument, they should refrain from doing so.
The legislative instrument can be found here.
