Helpful advice for tax practitioners
We have put together some questions to help you understand our new requirements and the reasons why we revised our requirements.
Refer to the following information which will help you understand the changing regime and how it affects your registration.
You have to be either a tax agent registered with the TPB or a qualified tax relevant provider with ASIC to legally provide tax (financial) advice services from 1 January 2022.
There are certain events that can affect your continued registration as a tax agent or BAS agent, one of these events is becoming an undischarged bankrupt.
You must undergo a proof of identity process when you:
- apply to register as an individual tax or BAS agent; or
- complete your annual declaration as a registered individual tax or BAS agent.
This one-off process helps protect your identity and aligns our processes with Australian Government standards.
If you do not remember your My Profile username or password, click on the Forgot Username or Forgot Password link and follow the prompts. You can choose to receive a confirmation code by SMS or email to reset your username or password.
The Notifiable Data Breaches (NDB) scheme is administered by the Office of the Australian Information Commissioner (OAIC). All entities covered by the Privacy Act 1988 must comply with the NDB scheme.
If you become a victim of a cyber-attack, you can suffer some serious losses. You also have an obligation under the Code of Professional Conduct to protect the security and confidentiality of your client information.
If you have experienced a natural disaster which has affected your ability to meet your tax practitioner obligations, we will work with you to resolve any TPB matters.
This legislation protects people when they disclose information about an entity in relation to tax avoidance behaviour and other tax issues to an eligible recipient prescribed under the legislation.
Find out how the requirements of the TPB and Financial Adviser Standards and Ethics Authority (FASEA) compare for tax agents with a tax (financial) advice services condition on the following topics:
- Code comparison with the Corporations Act and FASEA Standards
- Comparing the TPB and FASEA’s education requirements for financial advisers
- Comparing the TPB and FASEA’s experience requirements for financial advisers
- Comparing the TPB and FASEA’s continuing professional education/development requirements
Last modified: 13 January 2022