Commonwealth Numbered Regulations Commonwealth Numbered RegulationsNote: See sections 8 and 13.
Part 1 -- Recognised BAS agent associations
101 The association is a non-profit association.
102 The association has adequate corporate governance and operational procedures to ensure that:
(a) it is properly managed; and
(b) its internal rules are enforced.
103 The association has professional and ethical standards for its voting members, including terms to the effect that:
(a) voting members must undertake at least 15 hours of continuing professional education each year; and
(b) voting members must be of good fame, integrity and character; and
(c) each voting member is subject to rules controlling the member's conduct in the practice of the member's profession; and
(d) each voting member is subject to discipline for breaches of those rules; and
(e) if a voting member is permitted by that association to be in public practice, the voting member has professional indemnity insurance.
104 The association has satisfactory arrangements in place for:
(a) notifying clients of its members, or of members of its member bodies, about how to make complaints; and
(b) receiving, hearing and deciding those complaints; and
(c) taking disciplinary action if complaints are justified.
105 The association has satisfactory arrangements in place for publishing annual statistics about:
(a) the kinds and number of complaints made to the association; and
(b) findings made as a result of the complaints; and
(c) action taken as a result of those findings.
106 The association is able to pay its debts as they fall due.
107 The management of the association:
(a) is required to be accountable to its members; and
(b) is required to abide by the corporate governance and operational procedures of the association.
108 The association has at least 1000 voting members, of whom at least 500 are registered BAS agents.
Note: The term registered BAS agent is defined in the Act.
109 Each voting member of the association has been awarded a Certificate IV in Accounting and Bookkeeping (or a Certificate IV Bookkeeping or Certificate IV Accounting), or a higher qualification in bookkeeping or accounting, from:
(a) a registered training organisation; or
(b) an equivalent institution.
Part 2 -- Recognised tax agent associations
201 The association is a non-profit association.
202 The association has adequate corporate governance and operational procedures to ensure that:
(a) it is properly managed; and
(b) its internal rules are enforced.
203 The association has satisfactory arrangements for ensuring appropriate professional and ethical requirements standards for its voting members, including:
(a) voting members must undertake an appropriate number of hours of continuing professional education each year; and
(b) voting members must be of good fame, integrity and character; and
(c) each voting member is subject to rules controlling the member's conduct in the practice of the member's profession; and
(d) each voting member is subject to discipline for breaches of those rules; and
(e) if a voting member is permitted by the association to be in public practice, the voting member has professional indemnity insurance.
204 The association has satisfactory arrangements for dealing with complaints, including:
(a) notifying clients of its members, or of members of its member bodies, about how to make complaints; and
(b) receiving, hearing and deciding those complaints; and
(c) taking disciplinary action if complaints are justified.
205 The association has satisfactory arrangements for publishing annual statistics about:
(a) the kinds and number of complaints made to the association; and
(b) findings made as a result of the complaints; and
(c) action taken as a result of those findings.
206 The association is able to pay its debts as they fall due.
207 The management of the association:
(a) is required to be accountable to its members; and
(b) is required to abide by the corporate governance and operational procedures of the association.
208 An association is taken to have arrangements that comply with a requirement mentioned in clause 203, 204 or 205 if:
(a) a law of a State or Territory that has the same, or substantially the same, effect as the requirement in that paragraph applies in relation to the association or its members (as the case may be); and
(b) the association or its members (as the case may be) complies with that law.
209 The association has at least 1000 voting members, of whom at least 500 are registered tax agents.
Note: The term registered tax agent is defined in the Act.
210 At least one of the following applies in relation to each voting member of the association:
(a) the member has been awarded a degree or a post-graduate award in a relevant discipline (within the meaning of Part 2 of Schedule 2) from:
(i) an Australian tertiary education institution; or
(ii) an equivalent institution;
(b) the member has been awarded a diploma or higher award in a relevant discipline (within the meaning of Part 2 of Schedule 2) from:
(i) a registered training organisation; or
(ii) an equivalent institution;
(c) the member has the academic qualifications required to be an Australian legal practitioner;
(d) the member has at least 8 years of full time experience (or part time equivalent) in providing tax agent services in the last 10 years;
(e) the member has at least 6 years of full time experience (or part time equivalent) in providing tax (financial) advice services in the last 8 years.
Note: The terms tax agent service and tax (financial) advice service are defined in the Act.