QANTAS pays women 37% less, Telstra and BHP 20%. Fifty years after...
Men continue to outstrip women in the salary stakes, with men’s median annual salary $11,542 greater than women’s,...
READ MORE
Tax agents, BAS agents and financial advisers face hiked registration and renewal fees from 1 July, the TPB has announced.
From 1 July, the Tax Practitioners Board is implementing its annual consumer price index adjustment, resulting in an increase of the application fee to register or renew as a tax agent, BAS agent or tax (financial) adviser.
The CPI adjustment was introduced by the government in the 2018-19 federal budget, and is included in Part 2 – Registration of the Tax Agent Services Regulations 2009 (TASR).
As of 1 July, applications fees for tax agents will rise by $23 to $700, while financial advisers will pay $10 more or $560. Fees for BAS agents will lift by $3 to $140, the TPB confirmed this week.
The fee is not subject to GST.
“If you have an upcoming renewal or are applying to register, and you pay and submit the application by 10pm (AEST) 30 June 2020 the payment will be based on the existing fee,” the TPB said.
It reminded that applications paid and submitted after this time, however, will be based on the increased fee.
In March, the TPB announced it is temporarily waiving the requirement to complete annual declarations for some tax practitioners and relaxing CPE activities as it looks to support practitioners through the coronavirus crisis.
“If your annual declaration is due on or before 31 December 2020, you do not have to complete it until 2021 or 2022 (if your registration renewal is due in 2021),” the TPB said at the time.
It advised that tax practitioners not able to lodge their registration renewal application on time, should contact them to discuss their situation and make appropriate arrangements.
In further news from the board in March, it removed the cap on its CPE policy, set previously at 25 per cent, for relevant technical/professional reading activity until 30 September.
“It is important to note that while the 25 per cent professional reading cap has been temporarily lifted, all elements of our CPE requirements still apply,” the TPB confirmed at the time.
For more information on registering or renewing with the TPB, refer to registration and renewal.