Don’t risk your registration – update your PI insurance now!
Commencing October 2020, we’ll be contacting you if our records indicate that your professional indemnity (PI) insurance details are not up to date with us.
Due to COVID-19 we have temporarily waived the requirement for some tax practitioners to complete annual declarations. You may be exempt from lodging your annual declaration if it’s due on or before 30 June 2021. However, you are still required to ensure your PI insurance details are up to date with us and that you are maintaining your ongoing registration requirements.
What you need to do
Login to your profile via tpb.gov.au/MyProfile to check and update your PI insurance details and the details for any of your associated entities.
Watch our video which provides instructions on updating PI insurance details via My Profile.
You should also update your contact details, including your email address and mobile number and advise us of any changes to your circumstances.
What happens if you don’t update your PI insurance details on time?
If you don’t update your PI insurance details within 14 days of us contacting you, you will not be meeting your ongoing registration requirements. This is a breach of the Code of Professional Conduct and may result in the termination your registration.
- Professional indemnity insurance
- Maintain your registration as a tax agent
- Maintain your registration as a BAS agent
- Maintain your registration as a tax (financial) adviser
Last modified: 17 November 2020