The Tax Practitioners Board (TPB) has advised tax and BAS agents to notify it as soon as possible if they are changing their practice structure. The Board says a change in practice structure could include changing from an individual to a partnership or a company, changes to a partnership, or changes to company directors. It added that creating a new business structure requires registration of that entity and that a new registration application could take some time to process depending on its complexity. Therefore it said it is important to notify the Board “now if you want the changes effective for 1 July 2013”. The Board also noted that changes to a partnership or a change to company directors must be notified to the Board within 30 days. Further information is available on the TPB website or email: enquirymanagement@tpb.gov.au.
[LTN 88, 10/5/13]