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Change in tax (financial) adviser practice structure

Change in tax (financial) adviser practice structure

If you change how your practice is structured, you must:

  • let us know about the change, as you may need to apply for registration for the new business structure, which includes getting a new registration number to practise under
  • notify us within 30 days if there is a change to a partnership or company directors.

If you are an Australian financial services (AFS) licensee you also need to notify the Australian Securities and Investments Commission (ASIC) of changes to your business structure.
 

Changing from an individual to a company or partnership structure

If you are changing from an individual to a company or partnership structure, you will need to lodge an application with us to register the new company or partnership.

Companies or partnerships registering as tax (financial) advisers must have a sufficient number of registered individual tax (financial) advisers or tax agents to provide tax (financial) advice services to a competent standard and to carry out supervisory arrangements. It may therefore be appropriate for you to maintain your individual registration for this purpose.

For more information about company or partnership registration requirements, refer to Registering as a company or partnership tax (financial) adviser
 

Changes to a company or partnership registration

You must notify us in writing within 30 days of the day you become, or ought to become, aware of certain events occurring in relation to the registered company or partnership. This includes when:

  • a new director or partner (individual or company) joins
  • an existing director or partner (individual or company) leaves
  • the company or partnership ceases to meet one of the registration requirements
  • an event affecting the continued registration of the company or partnership occurs in respect of a director of the company, or an individual partner or a director of a company partner.

To advise us of changes, complete our online form.

If any new director/s or individual partner/s have joined your practice but are not currently registered with the TPB, you will need to complete and upload Schedule of personal details to the form.

 

Trust structures

If you decide to operate or cease operating through a trust structure, you need to notify us in writing. In some circumstances, you may need to apply for a new registration.

For information, refer to our information sheet Agents conducting business in the capacity of trustee of a trust: registration considerations TPB(I) 03/2011.

If you are unsure of registration requirements of trust structures, contact us.
 

Further assistance

If you are considering other changes to your practice structure and require further assistance, contact us


Last modified: 20 December 2017