Why should you use a Registered Tax Agent
Only registered Tax Agents and BAS Agents can charge or receive a fee or other reward for providing Tax Agent and BAS services.
If you use an unregistered Tax or BAS Agent you are taking big risks, as the agent you use may not have the qualifications or experience required of a registered agent, and may not have the appropriate indemnity insurance cover. if they are negligent you will not be protected under the safe harbour provisions set out in the Taxation Administration Administration Act 1953.
In 2014 the Tax Practitioners Board launched the Registered Tax Practitioners symbol which included the registered tax agent’s personal tax agent number. By using the symbol an agent shows the public that they are a registered tax practitioner with the Tax Practitioners Board. To be approved for registration by the TPB a tax agent must have the relevant indemnity insurance, qualifications, experience, knowledge and expertise required by a professional registered tax agent to facilitate the accounting and taxation process.
Registered Tax Agents are required to adhere to a Code of Professional Conduct under Tax Practitioners Board regulations. To keep their registration, a Registered Tax Agent must maintain their competency by completing continual professional education requirement and keep up to date with technical, legal and business developments.