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TPB releases final information sheet on confidentiality of client information

Wednesday, August 6, 2014

TPB releases final information sheet on confidentiality of client information

The Tax Practitioners Board (TPB) has released a final information sheet providing guidance on confidentiality of client information, which is one of the obligations for registered agents under item 6 of the Code of Professional Conduct (Code) in the Tax Agent Services Act 2009 (TASA).

Code Item 6 states that ‘unless you have a legal duty to do so, you must not disclose any information relating to a client’s affairs to a third party without your client’s permission’.

The information sheet describes the principles, and includes practical examples of how to apply them in day-to-day situations that practitioners may encounter. It also outlines consequences for failing to comply with this particular Code item.

While the information sheet is aimed specifically at registered tax and BAS agents, it provides useful guidance for all registered tax practitioners. It is particularly relevant to tax practitioners that may outsource a component of their tax agent services to a third party.

Additional information specifically for tax (financial) advisers is in development and will be released at a later date.

The information sheet is available at TPB(I) 21/2014 Code of Professional Conduct – Confidentiality of client information


Background information:

The TPB released this document as an exposure draft in March 2014 and invited comments and submissions. The TPB considered submissions in producing the final information sheet. The TPB appreciates the valuable feedback it receives, recognising its integral role in ensuring that the TPB meets its objective and purpose in an effective manner.

Further information 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.

Contact: Communications [at] tpb.gov.au (Communications) on 02 6216 8313

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