The TPB invites comments on draft Code of Professional Conduct information sheets for tax (financial) advisers
Chair of the Tax Practitioners Board (TPB), Mr Ian Taylor, has today invited stakeholders to comment on four new draft information sheets providing practical guidance on how the Code of Professional Conduct (the Code) applies to tax (financial) advisers.
‘All registered tax practitioners, including tax (financial) advisers, need to ensure they comply with their obligations under the Code. To assist tax (financial) advisers to understand what this means for them, the TPB has issued four exposure draft documents relating to acting in the best interests of their clients, taking reasonable care to ascertain a client’s state of affairs, applying tax laws correctly and managing conflicts of interest,’ Mr Taylor said.
‘I encourage all interested parties to take the opportunity to review the exposure drafts and provide their comments.’
- TPB(I) D32/2016 Code of Professional Conduct - Acting lawfully in the best interests of clients for tax (financial) advisers
- TPB(I) D33/2016 Code of Professional Conduct - Reasonable care to ascertain a client's state of affairs for tax (financial) advisers
- TPB(I) D34/2016 Code of Professional Conduct - Reasonable care to ensure taxation laws are applied correctly for tax (financial) advisers
- TPB(I) D35/2016 Code of Professional Conduct - Having adequate arrangements for managing conflicts of interest for tax (financial) advisers
All submissions will be reviewed and considered before the final information sheets are published on the TPB website.
Submission on the four exposure drafts close on 11 July 2016. Comments can be sent to tpbsubmissions [at] tpb.gov.au
About the Tax Practitioners Board:
The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct.