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The board has provided tips to take the stress out of the process for tax and BAS agents.
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TPB urges agents to renew registrations
13 July 2022
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The TBP has provided individual and company tax and BAS agents tips to make its registration renewal process stress-free.
An initial reminder from the TPB alerts agents that they must renew their registration between 30 and 90 days before it is due to expire.
The TPB said that the first step in starting the renewal process is to ensure your proof of identity is completed.
This procedure is one-off and can be completed either online or in person at an Australia Post office.
Agents need to ensure that their legal name on the identity documents used to confirm proof of identity – passport, driver’s licence, Medicare card – is the same as the name that they use to register with the TPB.
The TPB said that ensuring completion of the required amount of continuing professional education (CPE) is another essential step in ensuring a smooth renewal process for tax and BAS agents.
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For a standard registration tax agents must complete a minimum of 120 hours within the three-year registration and a minimum of 20 hours every year.
The level of CPE required for BAS agents is slightly less, only requiring a minimum of 90 hours of CPE within a standard three-year registration and a minimum of 20 hours each year.
TPB certified BAS agent Michele Grisdale of Rainforest Bookkeeping said that when she previously had to renew with the TPB she had not faced any problems but that it may have been just that she is not a stress head.
“I don’t find the CPE hours to be a problem as I have to do them for my ICB (Institute of Certified Bookkeepers) registration as well,” said Ms Grisdale.
She also said that while it was great she had already received an email reminding her to renew her registration later in the year it was quite pre-emptive being so far out from the date.
The renewal process also requires tax and BAS agents to provide details of their professional indemnity insurance along with membership details for those who relied on being a voting member of a recognised professional association to gain their registration.
Finally individual agents must also provide details of any events that may affect eligibility for registration including any overdue tax obligations.
Renewing a partnership or company registration with the TPB is very similar to individual registrations.
The TPB said the main difference is that the details of directors and partners who are not registered as individual tax or BAS agents must be provided.
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