BAS agents authorised to offer expanded SGC services
The Tax Practitioners Board (TPB) has registered a new business activities statement (BAS) services legislative instrument, the Tax Agent Services (Specified BAS Services No. 2) Instrument 2020.
The new instrument allowed BAS agents to provide an expanded range of services in relation to the superannuation guarantee charge (SGC), including supporting clients in dealing with the Commissioner of Taxation.
The expansion built on the services that BAS agents had already been providing under the previous legislative instrument.
Ian Klug, TPB chair, said the consultation process revealed a widely supportive response to the expansion of services that BAS agents are now permitted to offer.
“The new legislative instrument provides additional certainty and clarity for BAS agents around the services they are able to offer relating to the superannuation guarantee and SGC,” Klug said.
“BAS agents are bound by the Code of Professional Conduct and must not provide the services if they do not have the requisite skills and competency.”
AUTHOR
Chris Dastoor
Recommended for you
The Reserve Bank of Australia (RBA) has lowered rates to a level not seen since mid-2023.
Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.
The Federal Court has found a company director guilty of operating unregistered managed investment schemes and carrying on a financial services business without holding an AFSL.
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime becomes a threat.
