Thursday, August 6, 2009

Confusion over New Requirements for Tax Bookkeepers

Confusion has broken out around the requirements that bookkeepers who prepare Business Activity Statements will need to meet to become registered under the Federal Government's new registration regime for tax agents.

Assistant Treasurer Senator Nick Sherry released the final draft of the regulations for the for the new national tax agents system. The new system will require bookkeepers who prepare BAS statements to register with a new national board.

A transition period will run for two years, after which all registered BAS bookkeepers will be required to hold the Certificate IV bookkeeping qualification.

The new regulations have been largely welcomed by Matthew Addison, executive director of the Institute of Certified Bookkeepers, despite the fact bookkeepers costs could rise by as much as 40% due to the new requirements.

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