The Federal Opposition is claiming victory on the Tax Agents Services Act, with Shadow Assistant Treasurer, Senator Mathias Cormann, saying the Government has conceded to all of the Coalition’s demands on the legislation such that it will now support its passage through the Parliament.
The Government’s concessions have been confirmed in a letter to Cormann from the Assistant Treasurer, David Bradbury with key amongst them being a further 12 month extension of the exemption for financial planners.
The legislation is now expected to pass both houses before Parliament rises at the end of next week.
