The TPB have today issued the formal Legislative Instrument to give legal ability for BAS Agents to continue to provide advice and certainty (BAS Agent Services) to clients.
This adds the Economic Stimulus Law/s into the parts of the tax law that BAS Agents are permitted to work with.
We note all provisions of the Code of Conduct apply to BAS agents in the same way that they apply to Tax Agents
Competence & taking Reasonable Care to ascertain the clients circumstances and apply the law properly.
ICB appreciates the TPB quick action in relation to this matter.
BAS agents can now legally support Australian businesses by advising about their entitlements under the new JobKeeper Payment and Cashflow support for business initiatives.
TPB Chair, Ian Klug AM, said the legislative instrument makes it clear that BAS agents can lawfully advise on the JobKeeper Payments and on the Cashflow support for business.
‘This reflects a sensible and appropriate outcome to support the Government’s initiatives,’ Mr Klug said.
‘The TPB is working to support the extraordinary efforts of all registered tax practitioners acting professionally and ethically to assist Australian workers and businesses, especially in understanding these stimulus entitlements.’
TPB Media Release