Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) For subparagraph 251BC (1) (b) (ii) of the Act, the qualifications set out in subregulations (2), (3), (4) and (5) are prescribed.
(2) A qualification is that a person:
(a) has successfully completed the academic requirements for the award of a degree, diploma or other qualification from:
(i) an Australian university; or
(ii) a college of technical and further education; or
(iii) another educational institution of an equivalent standard; and
(b) either:
(i) has successfully passed examinations in the subjects
(however named) which an appropriate authority
of that university, college or
institution certifies
to the Board to represent a course of study in
accountancy of not less than 3 years duration (including a course of study in
commercial law of not less than 18 months duration); or
(ii) has such other qualification as the Board regards as equivalent to that qualification; and
(c) has :
(i) been engaged in relevant employment on a full‑time basis for not less than a total of 12 months in the preceding 5 years; or
(ii) otherwise been engaged in relevant employment to an extent that the Board regards as equivalent to the employment mentioned in subparagraph (i); or
(iii) been engaged in such other employment, and for such
time, as the Board regards as equivalent
to being engaged in the
relevant employment mentioned in subparagraph (i); and
(d) has successfully completed a course of study in Australian income tax law that is acceptable to the Board.
(3) A qualification is that a person:
(a) has successfully completed the academic requirements for admission as a barrister or solicitor of the High Court or of the Supreme Court of a State or Territory; and
(b) has :
(i) been engaged in relevant employment on a full‑time basis for not less than a total of 12 months in the preceding 5 years; or
(ii) otherwise been engaged in relevant employment to an extent that the Board regards as equivalent to the employment mentioned in subparagraph (i); or
(iii) been engaged in such other employment, and
for such
time, as the Board regards as equivalent
to being engaged in the
relevant employment mentioned in subparagraph (i); and
(c) has successfully completed a course of study in basic accounting principles in accordance with the requirements of a college of technical and further education or another educational institution of an equivalent standard; and
(d) has successfully completed a course of study in Australian income tax law that is acceptable to the Board.
(4) A qualification is that a person :
(a) has successfully completed the academic requirements for:
(i) the award of a diploma or certificate from a college of technical and further education or another educational institution of an equivalent standard; or
(ii) the award of a post‑graduate degree or graduate diploma from a university, a college of technical and further education or another educational institution of an equivalent standard;
following a course of study in accountancy of not less than 2 years duration of full‑time study or 4 years duration of part‑time study; and
(b) has :
(i) been engaged in relevant employment on a full‑time basis for not less than a total of 2 years in the preceding 5 years; or
(ii) otherwise been engaged in relevant employment to an extent that the Board regards as equivalent to the employment mentioned in subparagraph (i); or
(iii) been engaged in such other employment, and
for such
time, as the Board regards as equivalent
to being engaged in the
relevant employment mentioned in subparagraph (i); and
(c) has successfully completed a course of study in Australian income tax law that is acceptable to the Board.
(5) A qualification is that a person:
(a) has :
(i) been engaged in relevant employment on a full‑time basis for not less than a total of 8 years in the preceding 10 years; or
(ii) otherwise been engaged in relevant employment to an extent that the Board regards as equivalent to the employment mentioned in subparagraph (i); or
(iii) been engaged in such other employment, and
for such
time, as the Board regards as equivalent
to being engaged in the
relevant employment mentioned in subparagraph (i); and
(b) either :
(i) is a member of, and entitled to vote at meetings of,
a
recognised professional association (within the meaning of section 251LA of
the Act); or
(ii) has:
(A) successfully completed a course of study in basic accounting principles in accordance with the requirements of a college of technical and further education, or an educational institution of an equivalent standard; and
(B) successfully completed a course of study in Australian income tax law that is acceptable to the Board.
Note The Commissioner publishes the names of recognised professional associations on the Australian Taxation Office web site at http://www.ato.gov.au.
(6) In this regulation:
"relevant employment" means employment by a person or a partnership, or as a member of a partnership, in the course of which there has been substantial involvement in income tax matters including:
(a) the preparation or examination of a broad range of income tax returns; and
(b) the preparation or examination of objections to assessments issued in respect of such returns; and
(c) the provision of advice in relation to income tax returns, assessments or objections.