Tax practitioners + TASA reform
Tax + BAS agents registration, Code of Conduct + 2024 Code Determination, breach reporting, supervision + arrangements. Substantial reforms post-PwC.
44
Obligations
12
Regulators
20
Recent enforcement
Regulators
Obligations (44)
- criticalCWLTHcurrentTASA Code Determinations from 1 August 2024
Tax practitioner code reformed via Code Determinations — false + misleading statements + supervision + breach reporting.
- criticalCWLTHcurrentLodge Business Activity Statements at assigned frequency
GST-registered entities must lodge a BAS monthly, quarterly or annually as the ATO assigns.
- criticalCWLTHcurrentWithhold PAYG from employee and contractor payments
Employers must withhold tax from wages, certain contractor payments + report via STP / BAS.
- criticalCWLTHcurrentComply with the TASA Code of Professional Conduct
Tax practitioners must observe honesty, competence, confidentiality, PI insurance, and (from 2025) expanded breach reporting.
- criticalCWLTHcurrentMake trustee resolutions for trust distributions by 30 June
Discretionary trust trustees must validly resolve to distribute trust income before the end of the FY.
- criticalCWLTHcurrentApply for a Director Identification Number (Director ID)
Every director needs a Director ID before appointment — apply via ABRS.
- criticalCWLTHcurrentAustralian Business Number (ABN) application
Entities carrying on an enterprise in Australia need an ABN — without one, payers must withhold 47% PAYG from your payments. How to apply and who's eligible.
- criticalCWLTHcurrentMaintain AHPRA registration and CPD
Registered health practitioners must hold current registration and meet annual CPD per their National Board standards.
- criticalCWLTHcurrentPay company PAYG/GST/SG or face Director Penalty Notice (DPN)
Directors personally liable for unpaid company PAYG, GST + SG via DPN regime.
- criticalCWLTHcurrentComply with Aged Care Code of Conduct
All providers + workers must comply with the federal Aged Care Code of Conduct.
- criticalCWLTHcurrentMaintain Financial Adviser registration + standards (s 921B)
Relevant providers must be on the Financial Advisers Register and meet education + CPD + Code of Ethics.
- highVICcurrentPay Victorian land tax (including absentee owner surcharge)
VIC land tax applies on aggregated taxable value above $50K (general) / $25K (trust); absentee owner +4% surcharge.
- highTAScurrentPay Tasmanian payroll tax when threshold met
TAS: 4% / 6.1% on Australian wages above the $1.25 million tax-free threshold (FY2026-27).
- highNSWcurrentPay NSW land tax
NSW land tax applies on aggregated unimproved land value above $1.075M general threshold (2026).
- highCWLTHcurrentApply for a Tax File Number for new entities and partnerships
Companies, trusts and partnerships need a TFN to file tax returns and claim TFN exemptions.
- highCWLTHcurrentThin capitalisation rules (Div 820 ITAA 1997)
Limits debt deductions for thinly-capitalised entities, reformed from 1 July 2023.
- highQLDcurrentPay Queensland land tax
QLD land tax applies on aggregated land value above $600K (individuals) / $350K (companies + trusts).
- highWAcurrentPay Western Australian payroll tax when threshold met
WA: 5.5% on Australian wages above the $1 million tax-free threshold (FY2026-27).
- highCWLTHcurrentMaintain TPB registration (tax/BAS agents)
Tax agents and BAS agents must be registered with the TPB and comply with the Code of Professional Conduct.
- highVICcurrentPay Victorian stamp duty on residential property
Variable rates by purchase price; foreign purchaser surcharge 8%. PPR concession available.
- highCWLTHcurrentLodge an FBT return and pay FBT by 21 May
Employers who provided fringe benefits in the FBT year (1 April – 31 March) must lodge by 21 May.
- highNSWcurrentPay NSW payroll tax when threshold met
NSW: 5.45% on Australian wages above the $1.2 million tax-free threshold (FY2026-27).
- highQLDcurrentPay Queensland payroll tax when threshold met
QLD: 4.75% on Australian wages above the $1.3 million tax-free threshold (FY2026-27).
- highACTcurrentPay ACT payroll tax when threshold met
ACT: 6.75% on Australian wages above the $1.75 million tax-free threshold (FY2026-27).
- highCWLTHcurrentRegister for GST when GST turnover meets the threshold
Register within 21 days when GST turnover reaches $75K (or $150K for NFPs, or any amount for ride-share/taxis).
- highVICcurrentPay Victorian payroll tax when threshold met
VIC: 4.85% on Australian wages above the $1 million tax-free threshold (FY2026-27).
- highSAcurrentPay South Australian payroll tax when threshold met
SA: 4.95% on Australian wages above the $1.5 million tax-free threshold (FY2026-27).
- highNTcurrentPay Northern Territory payroll tax when threshold met
NT: 5.5% on Australian wages above the $2.5 million tax-free threshold (FY2026-27).
- highNSWcurrentPay NSW transfer duty on residential property acquisitions
Variable transfer duty rates; foreign purchaser additional duty 9%.
- highCWLTHcurrentMaintain transfer pricing documentation (Subdivision 815-D)
Multinational groups must keep contemporaneous transfer pricing documentation per Subdivision 815-D ITAA 1997.
- highCWLTHcurrentRegister R&D activities for the R&D Tax Incentive
Companies must register R&D activities with AusIndustry within 10 months of the end of the income year.
- highCWLTHcurrentLodge Country-by-Country Report (CbC) for significant global entities
Multinationals with global income >EUR 750M must lodge CbC Report annually.
- highCWLTHcurrentRegister as a responsible entity / direct interest holder under SOCI
Captured critical-infrastructure assets must be registered with Home Affairs.
- highCWLTHcurrentWine Equalisation Tax (WET) for producers + wholesalers
WET at 29% on wine wholesale value; rebate scheme up to $350K per producer.
- highCWLTHcurrentPetroleum Resource Rent Tax (PRRT)
40% PRRT on offshore + onshore (Bass Strait only) petroleum project profits.
- highAll statescurrentState mining royalties
Royalty payable on mining production per state Mining Acts.
- highQLDcurrentPay QLD transfer duty on residential property
QLD transfer duty progressive; foreign acquirer additional duty 8% (from 1 July 2024).
- mediumCWLTHcurrentComply with Managed Investment Trust (MIT) tax regime
Eligible MITs benefit from 15% withholding rate on non-resident distributions if elected + compliant.
- mediumCWLTHcurrentTrack eligibility for the electric car FBT exemption
Eligible electric vehicles under the LCT threshold provided to employees are FBT-exempt.
- mediumCWLTHcurrentElectric Cars FBT Exemption (Cwlth)
Eligible zero/low-emission cars FBT-exempt under car limits (until 2025 for PHEVs).
- mediumCWLTHcurrente-Invoicing PEPPOL network (Cwlth gov mandated)
Commonwealth agencies must accept Peppol e-invoices; private sector encouraged.
- mediumCWLTHcurrentClaim Fuel Tax Credits (FTC) for eligible business fuel use
Eligible business activities can claim back fuel tax via FTC system.
- mediumCWLTHcurrentInstant Asset Write-Off (annually re-set threshold)
SBE asset write-off threshold reset annually; $20,000 for FY25-26.
- mediumCWLTHcurrentPay Luxury Car Tax (LCT) on vehicles above threshold
LCT at 33% on the GST-inclusive value of luxury cars above LCT threshold.
Recent enforcement
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration suspended — WORLDWIDE MONEY TRANSFER PTY LTD
WORLDWIDE MONEY TRANSFER PTY LTD appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Alsultan General Trading Pty Ltd
Alsultan General Trading Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Hafez Pty Ltd
Hafez Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Century Speed Pty Ltd
Century Speed Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration cancelled — BA Digital Ventures Pty Ltd
BA Digital Ventures Pty Ltd appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Svit Payments Pty Ltd
Svit Payments Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Exclusive Services Pty Ltd
Exclusive Services Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration renewal refused — Aphrodite Healthcare Pty Ltd
Aphrodite Healthcare Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration renewal refused — Superpay Global Pty Ltd
Superpay Global Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration renewal refused — Tido Capital Pty Ltd
Tido Capital Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration renewal refused — Transfast Services Pty Ltd
Transfast Services Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Ghahremani Pty Ltd
Ghahremani Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Agility Capital Pty Ltd
Agility Capital Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration suspended — AQUARIUS AGE SOLUTIONS PTY LTD
AQUARIUS AGE SOLUTIONS PTY LTD appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration cancelled — Self Custody Pty Ltd
Self Custody Pty Ltd appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration cancelled — Jam Xchange Pty Ltd
Jam Xchange Pty Ltd appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: virtual asset service provider (digital currency exchange) registration cancelled — Coinsec Australia Pty Ltd
Coinsec Australia Pty Ltd appears on AUSTRAC's list of virtual asset registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — Fortune Forex Pty Ltd
Fortune Forex Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration cancelled — P2H Pty Ltd
P2H Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.
- austraclicence action2026AUSTRAC: remittance service provider registration renewal refused — Sajilo Finance Pty Ltd
Sajilo Finance Pty Ltd appears on AUSTRAC's list of remittance registration actions. AUSTRAC states it can refuse, suspend, cancel or refuse to renew a registration where it considers a business poses an unacceptable risk of money laundering, terrorism financing or other serious crime; the list does not give the grounds for this decision.