Why become a tax agent?

Tax agent basics – everything you need to know about how to become one.

Although the tax profession is transforming with the onset of digitisation and regulatory changes, specialist knowledge and advisory services are still of major value. This is because clients, large and small, rely on their tax agent for the best advice and recommendations.

A tax agent offers professional services that relate to calculating or advising about liabilities, obligations or entitlements of clients under a taxation law, or representing entities in dealing with the Commissioner of Taxation, where the client can be reasonably expected to rely on the service to satisfy liabilities or obligations, or to claim entitlements, under taxation law.

The Tax Practitioners Board (TPB) is responsible nationally for the registration and regulation of tax practitioners and for ensuring compliance with the Tax Agent Services Act 2009 (TASA). Tax practitioners may be registered tax agents, BAS agents and tax (financial) advisers. Tax agents, BAS agents and tax (financial) advisers may be registered as an 'individual' or a 'company or partnership'.

Although tax practitioners can be found across the tax profession, the services offered, particularly by tax agents and BAS agents, align most closely with the broad purposes of the accounting segments. 

Qualifications and experience for tax agents

Candidates must satisfy certain qualifications and experience requirements, which are set out in TASA. You may apply to register as a tax agent through one of six options outlined in the TASA (items 201 to 206) depending on your qualifications and experience. Pathways 201 to 204 cater to those who have both education and experience. And 205 and 206 cater for those who only have experience and an affiliation with an approved membership body.

The Tax Institute’s Tax Agent Program breakdown

The Tax Institute’s education programs have been developed to provide you with a specific professional outcome. Whether you want to complete a recognised postgraduate qualification, become a Chartered Tax Adviser (CTA) or complete an education program approved by the TPB, you can do so by studying with The Tax Institute.

The Tax Agent Program allows you to register as a tax agent. Those new to the profession and wishing to practice in areas of accounting, tax and commercial law and financial management will gain an understanding of the concepts and practical applications of Australian tax law.
The program delivers real-world skills and knowledge, as well as an understanding of the concepts and practical applications of tax law in Australia. You may be able to have the entry requirements waived based on your previous studies if you have completed board-approved units recognised by the TPB. Find out if you are eligible.

The top 3 things about our Tax Agent Program:
  • it is approved by the Tax Practitioners Board (TPB)
  • allows you to gain skills that are directly applicable to the workplace
  • it is available as independent subjects to fill specific knowledge gaps
Fast facts about the Tax Agent Program

Here is a breakdown of the program structure:
  • Subjects: 6
  • CPD: this program accounts for 30 structured hours per subject
  • Delivery: face-to-face, intensive study, and distance
  • Duration: 1.5- 2 years, part time
  • Commencement: 3 study periods available per year
What you’ll learn:
  • How to explain the basic structure of tax and compliance obligations
  • The ethics and professional responsibilities of a tax professional
  • How to advise on the tax impacts of commercial and property transactions.
Subjects included in the program:
Course in Australian Taxation Law
  • ATL001 CTA1 Foundations
  • ATL003 CTA2A Advanced
  • ATL004 CTA2B Advanced
Course in Commercial Law
  • ATL002 CommLaw1 Australian Legal Systems
  • ATL005 CommLaw2 Entities and Business Structures
  • ATL006 CommLaw3 Property Law
Apply to become a tax agent and save $100 if you enrol before 5 November.  Speak with an adviser today: 1300 829 338 or enrol here.


Popular posts from this blog

Div 7A: Issues when dealing with loans and unpaid present entitlements

The biggest changes in estate planning in a generation

July's tax developments - in depth