Issue 53 | April 2021 | Tax (financial) adviser edition
TPB News

eNews has a new look!

We’ve gone through the suggestions we received for our eNews survey and as a result, we’ve refreshed the look of our newsletter. We thank you for taking time out of your busy schedules to provide us with some honest feedback. We’re still in the process of going through all your suggestions and will apply some of them throughout the next few months. For now, we hope you enjoy a more user friendly look!

Dealing with disaster?

If you were affected by the impacts of the recent heavy rains, storms and floods in parts of New South Wales and Queensland, we understand that ensuring the safety and security of yourself and your family will be your main priority. If your business has been impacted, contact us when you’re ready and we’ll work with you to make appropriate arrangements regarding your registration with us. The Australian Taxation Office (ATO) also offers support such as deferring lodgment and payment, and reconstructing records.

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COVID-19 concessions extended

We’ve extended some of our COVID-19 concessions until 30 June 2021. We continue to:

  • accept a small amount of continuing professional education (CPE) dedicated to your educative health and wellbeing activities
  • remove the 25% cap for relevant technical/professional reading activity in our CPE policy
  • waive the requirement to lodge your annual declaration if your registration renewal is due in 2022.

It’s important you understand that while these concessions are in place, you must continue to meet your other obligations including professional indemnity (PI) insurance, fit and proper requirements and personal tax obligations.

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Helping you work with us

Did you know we have a range of communication and support products to assist you to work with us? Some of these include contact us forms, news services such as this newsletter and our Newsroom, social media channels, webinars, videos and speaking engagements. Find out more about each of these channels and how you can best communicate with us.

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Did we contact you about PI insurance?

If you received an email or SMS from us about updating your PI insurance, make sure you update your details as soon as possible. Login to your My profile account to update your details and the details of any of your associated entities. As a registered tax (financial) adviser, you must ensure your PI insurance details are up to date and that you are maintaining your ongoing registration requirements. If you need help, our video will guide you through the process. 

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Policy update

Using and disclosing TFNs in emails

We have released guidance on the use and disclosure of tax file numbers (TFNs) in email communications. As a tax (financial) adviser, you have an obligation under the Code of Professional Conduct (Code) to maintain confidentiality of client information, including client TFNs. Our guidance will help you understand your obligations and how to comply with the Code. It will also provide some practical steps you can take to protect the security of TFNs and TFN information.  

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Thanks for your CPE feedback

We received an overwhelming response to our draft CPE policy. We thank you for your feedback and appreciate you taking the time to offer your valuable suggestions. We are now in the process of carefully reviewing the feedback received and will consult further, if required, before finalising our position. It’s important you understand our current CPE policy requirements still apply until we release our revised policy.

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Practice management tips

Join our free webinars! 

On 22 April we’re hosting two webinars. We’ve teamed up with the Office of the Australian Information Commissioner to bring you Preventing data breaches at 11:00am – 12:00pm (AEST). Learn about the steps you should take to mitigate the risk of a data breach. At 2:00pm – 3:00pm (AEST) join us for Cracking the Code to find out the standards of personal and professional behaviour you must adhere to in order to maintain your registration.   

Register now

TASA review recording now available 

One of our most highly sought out webinar recordings is now available. Hear our Secretary CEO, Michael O’Neill, go through the Government response to the recommendations made in the final report into the review of the TPB and Tax Agent Services Act 2009 (TASA). You can also access the presentation slides and hyperlinks document. Don’t forget, you can claim CPE for listening to the recording.

Listen now

Talk to us at an Open Forum 

We’re speaking at some of the online ATO Open Forums. Now’s your chance to interact with us and the ATO and hear about the latest updates and upcoming changes. You’ll also be given the opportunity to raise any questions and participate in online discussions. Your attendance may contribute towards your CPE. Numbers for each session are limited so make sure you register early so you don’t miss out!

Register now

Follow us on social media 

Want to hear our latest news as it breaks? Follow us on FacebookLinkedIn and Twitter for all the latest news and events. ‘Like’ our pages so that you can be notified when any new announcements are made. You can also check out our YouTube channel where you can view our comprehensive library of webinar recordings and videos. Don’t forget, you may be able to claim free CPE for viewing any of our recordings.

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Sustained misconduct over nine years

We terminated the registration of Mr Ashley Cross on the grounds of misconduct and imposed a two-year ban from reapplying for registration. Mr Cross’s partnership Adamson and Cross was also terminated. This decision was affirmed by the Administrative Appeals Tribunal. Over a period of nine years, Adamson and Cross lodged 125 self-managed superannuation fund (SMSF) annual returns falsely declaring that the SMSFs had been audited when in fact they hadn’t been.

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Dishonesty and multiple Code breaches

A tax agent has breached multiple items of the Code which has resulted in the termination of his registration. The tax agent made false declarations about the status of his personal tax obligations. He advised us he didn’t have any outstanding personal tax obligations, was making voluntary payments toward his tax debts, and was under a payment plan with the ATO, when in fact none of this was true.

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About the Tax Practitioners Board
The Tax Practitioners Board (TPB) was established to regulate tax practitioners in order to protect consumers. The TPB assures the community that tax practitioners meet the appropriate standards of professional and ethical conduct.
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Tax Practitioners Board · GPO Box 1620 · Sydney, NSW 2001 · Australia