How to become a tax agent?
Under the A One Franchise/License agreement, prospective franchise owners, are required to have their own tax agent’s license. If you do not have one, we may be able to assist you on your journey to get your own registration, once you are approved to have an A One Accountants’ franchise. Once you have been approved to have met the requirements to be suitable to own an A One Accountants franchise, then we can help you on the way to become a tax agent and also get your own public practice license, if you do not have this already.
One of the more onerous requirements of being able to run your own tax franchise as a registered tax agent is to have your own tax agent’s license and in addition to the study requirements there is also a work experience requirement that needs to be signed off by a current registered tax agent.
At the time of writing this section, the requirement was to provide, at least 1 year full time equivalent work experience under the active supervision of a registered tax agent and to portray experience in various aspects of taxation.
What are the experience requirements to become a registered tax agent?
The tax agents experience requirements, indicate that you need to show verifyable experience in not only the preparation of individual tax returns but also companies, partnerships, trusts and SMSF. This is the aspect where many qualified CA’s; CPA’s and IPA members find it difficult to get through and eventually are unable to provide taxation services.
However though, it is extremely important to note that running a successful accounting practice goes beyond just the technical knowledge of accounting principles. It comes down to how much of a business minded individual you are and our training package will not only train you in the various aspects of taxation but also, problem solving, client dealing, mindset and temperament.
You will be ideally working alongside a registered tax agent on active client files to achieve the experience requirement to become a registered tax agent, whilst also learning to run an accounting practice all by yourself, under the active guidance and supervision of a tax agent.
A typical tax agent works an average of 50-60 hours a week. We understand some tax agents would like to believe that this figure may be quite conservative in nature, however with the seasonal busyness and the offseason softness, this figure will come to be true. You would need to leave the mindset of the 9 to 5 worker behind and pay wages to your staff whilst sometimes taking home less than your staff make. To be able to wade through such circumstances and eventually come out on the other side making great profits cannot come without experience, training and/or strong backing.
This is what you will learn when you sign up and are approved to take over and run an A One Accountants Franchise.
How to become a registered tax agent?
All said and done, you need to have the below:
- 1 Year supervised learning under a registered tax agent.
- Varied experience covering various aspects of taxation.
- An undertaking by a registered tax agent confirming the credibility of your experience.
- more details in the link below from the TPB
- https://www.tpb.gov.au/register-individual-tax-agent
The A One Accountants training programme and the supervised learning also forms part of quality control and 5-star service guarantee that all clients of A One Accountants receive. This training is an important aspect for the brand of A One Accountants to feel confident about the quality of advice and service you provide.