ALL QUESTIONS NEEDS TO BE ANSWERED UNDER AUSTRALIAN TAXATION RULES Jor Pegiu 2.

Question

ALL QUESTIONS NEEDS TO BE ANSWERED UNDER AUSTRALIAN TAXATION RULES

Jor Pegiu 2. Tax Agents- Application Madeleine Hatter, aged 21, has completed the Income tax law subjects in her Advanced Diploma of Accounting course (on her third attempt) and willi recelve her qualification at the graduation ceremony next May. Madelelne has worked for Cheshire Katt for the past eighteen months, Katt is a bookkeeper who attends to the preparation of financial reports and Business Activity Statements for a registered tax agent. Madeleine has not lodged her own income tax return for the past three years and has recelved a summons requiring her to attend local court in relation to his Madeleine wishes to obtain registration as a tax agent. What must she do to apply for registration as a tax agent? Is her application likely to be successful? Why or why not? Give applicable reasons.

Explanation / Answer

In Australia, if anyone would like to register as a Tax agent, then he or she has to follow the below proceedues for the registration :

* The individual must be 18 years old

* He or she must be fit and proper . That means the person should have the below requirements :

In deciding whether an individual is a fit and proper person, Goverment must consider:

* Qualifications : Individual may apply to register as a tax agent through one of six options outlined in the TASR (items 201 to 206) depending on Individual qualifications and experience

Item 201 – Tertiary qualifications in accountancy

Item 202 – Tertiary qualifications in a discipline other than accountancy

Item 203 - Diploma or higher award in accountancy

Item 204 - Tertiary qualifications in law

Item 205 - Work experience

Primary qualification

Items 201 to 204 require a primary academic qualification in accountancy, law or a relevant discipline other than accountancy.

As a general guide, if any Individual have a qualification:

If the individual do not have one of the above academic qualifications but have at least eight years of relevant experience in the past 10 years, you may find items 205 or 206 most suitable.

Board approved courses

To meet part of the education requirements for a tax agent registration under certain items, you must have completed Board approved courses in:

Your Australian taxation law course should include a component in the Tax Agent Services Act 2009 (TASA), including the Code of Professional Conduct (Code). Otherwise, you must have completed a separate unit covering this component.

So answering your question, Here Medeleine can register as Tax agent once she get her Graduation. So that she will be eligible for applying as Tax agent, even she has 1.5 year experince too. so she can be a Tax agent, she will be sucussful . Tax agents are also required to abide by a code of conduct, to maintain a minimum level of continued professional education and to have professional indemnity insurance cover. Registration must be renewed every three years

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