The legislation, which is aimed at providing greater consumer protection, is set to impact not only on tax practioners, but all those who provide BAS and bookkeeping services to the public. Those who are untrained, unqualified and inexperienced to be hardest hit.

Prior to the legislation, only tax agents were required to be registered. From March 2010, those individuals or entities who offer BAS services for a fee, will also be required to be registered with the Tax Practitioners Board. Registration will only be granted once applicants have demonstrated that they meet educational and relevant experience criteria and have professional indemnity insurance.

Although the legislation has been well accepted as a move in the positive direction, one of the most contentious parts of the legislation moves the responsibility of the accuracy of the BAS and tax return from the client onto the tax agent or the BAS service provider. The expected impact of this is the cost to lodge returns is expected to rise as tax agents and BAS service providers will need to ensure the accuracy and reliability of the accounts from which they are preparing the BAS's and tax returns.

Accountix is well prepared for the introduction of the legislation. The principal Shane Holbeck is a member of the NIA and has relevant experience that far exceeds the requirements to be a BAS service provider.