A tax agent is an individual who is responsible to prepare the income tax returns to be filed for more than 10 taxpayers. A tax agent can be –
- A Māori Trustee
- A professional conducting occupation or business to prepare returns of income, or
- A practitioner conducting professional practice
A tax agent can be a person, company, or partnership firm which meet the standards of definition as a tax agent under Sec. 34B(2) of Tax Administration Act 1994. There are different benefits for a registered tax agent and their clients as well.
Benefits for Registered Tax Agent
Here are the benefits for a registered tax agent –
- Access through the tax agent service line to different automated services
- An account manager is assigned to build relationship
- Get all the answers and up-to-date information.
- Have the tax information of your client that is sent to the agent and the client
- Access to the resources and tools designed for you, and
- Spread your filing throughout the year instead having it occurred on the peak period
Benefits for Clients
A registered tax agent can provide different benefits to the clients, for example, automatic time extension to file tax returns and provide immediate access to the tax details by offering approval.
Do you know your tax strategy? At M&S Business Solutions, you can avail different services for individuals and businesses in Castle Hill, Baulkham Hills, Norwest, and nearest areas. You may consult them for tax structures, tax planning, GST, and other matters.