TPB expands super capabilities for BAS agents

24 June 2020

The Tax Practitioners Board (TPB) is proposing to expand the role of business activity statement (BAS) agents, allowing them to deal with clients’ superannuation matters.

The TPB’s proposed legislative changes would see BAS agents able to deal with superannuation guarantee liability, advising on the offsetting of late payments of superannuation contributions against the superannuation guarantee charge and representing clients in dealing with the Commissioner for Taxation.

The proposed legislation follows on from the TPB having, in 2010, identified services that were being provided by BAS agents but which did not fall within the definition of a BAS service.

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The TPB said it considered it appropriate that these services should be included in the services that BAS agents are permitted to provide.

 




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Good to see TPB making sensible suggestions in relation to BAS agents. This is exactly the sort of thing the TPB should be doing.

But the TPB should NOT be interfering in financial adviser regulation. They should NOT be extorting fees from financial advisers. There are already more than enough financial advice regulators. The government needs to remove the TPB from financial adviser regulation right now. Sukkar is too weak to do it. Give Tim Wilson his job.

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