SEARCH

Amended TASA Bill passes House of Reps

An amended version of Tax Agent Services Act (TASA) legislation, featuring a 12 month implementation extension for financial advisers, has passed the House of Representatives.

The Bill was fully considered by the Federation Chamber and then sent back to the lower house where it was read a third time and passed.

The Bill’s passage follows the introduction of amendments by assistant treasurer David Bradbury this morning, which saw a 12-month extension granted to financial planners in complying with the laws.

Shadow minister for financial services Senator Mathias Cormann welcomed the passage of the changed TASA Bill, claiming it shows the government has acquiesced to the Coalition's demands.

Advertisement
Advertisement

"That is despite their initial attempt to ram this legislation through the House of Representatives without even a parliamentary committee inquiry," he told ifa

"A competent government would have seen the sense in our proposals straight away – but as they say, better late than never."

Amended TASA Bill passes House of Reps
default
ifa logo

Join the debate to improve the issues that surround affordability and accessibility within the advice industry at ifa’s brand-new event, ifa Future Forum.

Join your peers to uncover game-changing industry solutions to pave the way for solving the problem of accessibility and affordability. Utilise your extensive knowledge to formulate ideas and help futureproof advice. Register your free place now! ifafutureforum.com.au

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.