Register as a tax (financial) adviser – notification option

Who can notify to become a tax (financial) adviser?

From 1 July 2014 to 31 December 2015, the following entities that provide tax (financial) advice services can notify the Tax Practitioners Board to become registered as a tax (financial) adviser:

  • Australian financial services (AFS) licensees, and
  • authorised representatives of AFS licensees (as defined in the Corporations Act 2001).

Under the notification option:

  • there are no application fees payable
  • individuals do not need to meet education and experience requirements
  • partnerships and companies do not need to meet the sufficient number requirement.

 

How do I notify to become a tax (financial) adviser?

AFS licensees should have recieved a letter containing the username and password needed to access the online notification form through our login.

If you are an AFS licensee and have not received your letter please contact us.

Before you notify to register, make sure your AFS licensee  details are up to date as www.asicconnect.asic.gov.au.

Authorised representatives

If you are an authorised representative, your AFS licensee should notify on your behalf.

You must provide your AFS licensee with:

  • your consent for them to notify on your behalf
  • your consent to receive information electronically from us
  • a unique email address.

Once your AFS licensee has notified on your behalf we will send you an email to let you know that you are now registered. This email will require you to login to our website to confirm your contact details.

Registered tax agents

If you are a registered tax agent, you do not need to notify to register as a tax (financial) adviser. If you are also an authorised representative of an AFS licensee, please inform them of your existing registration with the TPB and that they do not need to notify on your behalf.

 

What happens after I notify?

Once you have notified us, you will become a registered tax (financial) adviser. This means you must:

  • comply with the fit and proper person requirements
  • adhere to the Code of Professional Conduct
  • maintain professional indemnity insurance that meets our requirements
  • advise us of any changes in details or circumstances.

Certain registration details will be published on the TPB Register.

You are registered from the day you notify us, and your registration will expire on the applicable date set out in the table below:

Date you notify us

Date your registration expires

1 July to 31 December 2014

31 January 2018

1 January to 30 June 2015

31 October 2017

1 July to 31 December 2015

31 July 2017

 

The earlier you notify us, the longer your registration period will be. This means you will have more time to make sure you meet the standard eligibility requirements to renew your registration.

 

Video: what happens when you register as a tax (financial) adviser

Our Chair, Ian Taylor, provides an overview of the obligations of registered tax (financial) advisers under the Tax Agent Services Act 2009.

 

What happens when my registration expires?

As a registered tax (financial) adviser, you must apply to renew your registration at least 30 days before it expires to continue providing tax (financial) advice services legally.

To renew your registration as a tax (financial) adviser, you must meet the standard eligibility requirements. For individuals, this will include the qualification, experience and continuing professional education requirements. For companies and partnerships, this will include the sufficient number test to ensure that services are provided competently and with appropriate levels of supervision.

For more information regarding the standard eligibility requirements refer to Registering as a tax (financial) adviser - standard option.

 

Further information

Tax (financial) adviser policy documents:

Last modified: 22 July 2014