On 18 December 2023 we issued Exposure Draft Information Sheets in relation to Code items 15 and 16 of the Code of Professional Conduct (the Code), which applied from 1 January 2024 (subject to transitional provisions in some circumstances).

Code items 15 and 16 are aimed at upholding high professional standards, demonstrated by most tax practitioners daily, by:

• requiring tax practitioners to seek our approval before employing or using a disqualified entity to provide tax agent services on their behalf, and
• prohibiting certain types of arrangements between a tax practitioner and a disqualified entity.

We invited comments and submissions in relation to the information contained in these Exposure Draft Information Sheets. Having considered these comments and submissions, we have now published the finalised Information Sheets:

• TPB(I) 41/2024 Code of Professional Conduct – Employing or using a disqualified entity in the provision of tax agent services without approval
• TPB(I) 42/2024 Code of Professional Conduct – Prohibition on providing tax agent services in connection with an arrangement with a disqualified entity.

The ‘Document history’ in these Information Sheets provides a summary of the updates and amendments we have made following consultation.

Enhancements to the TPB Public Register

On 31 May 2024, the Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 received Royal Assent. This legislation includes amendments to the Tax Agent Services Act 2009 which will require additional information, to be specified in proposed amendments to the Tax Agent Services Regulations 2022, to be published on the TPB Public Register.

The Code items 15 and 16 Information Sheets, our website material and Frequently asked questions will be updated in due course to reflect any relevant changes to the TPB Public Register as these come into effect. We’ll provide further updates soon.