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Issue 25 | May 2018 - Tax (financial) adviser edition

Message from the Chair

We have made a number of enhancements to improve the online experience with the Tax Practitioners Board (TPB).

The changes:
  • simplify how you advise us of changes to your registration
  • make it easier to search the public register for a registered tax practitioner
  • improve the ability of new applicants to assess their qualifications.
Notifying of changes in registration requirements made easier 
Under the Tax Agent Services Act 2009 (TASA) you must notify the TPB of any changes affecting your registration. The new Change of registration details form makes that easier, guiding you to provide the information we need to process your registration changes more efficiently.

Use the form to notify us of changes to your practice or legal name, add or remove supervising tax practitioners, directors or partners in your practice or advise of a change of circumstances.

More flexible search for the TPB Register
The new TPB Register provides a faster and flexible search experience. You can enter any keyword in the search field to locate a tax practitioner and use 'Filters' on the left-hand menu to refine your search results.

The new TPB Register provides a unique URL for every practitioner's record. Search the register and link to your record from your website or Registered tax practitioner symbol to show your clients you are registered with the TPB.

Online qualifications tool provides instant results
Our new qualifications tool enables applicants to:
  • check if their qualifications meet the registration requirements
  • search for Board approved courses and units
  • submit their courses and units for Board's assessment.
If you are currently registered under the transitional option, I encourage you to visit www.tpb.gov.au/qas to check if you will meet the qualification requirements at your next renewal. By entering the required information, you can find out instantly whether you meet our requirements or need to undertake further study.

As some of you may be due to renew in early 2019, I urge you to start preparing now.

We will continue to consult with tax practitioners to improve the online experience to make managing your registration easier.

Ian R Taylor
Chair, Tax Practitioners Board

Managing conflicts of interest

Item 5 of the Code of Professional Conduct (Code) requires you to have adequate arrangements to manage any conflicts of interest that may arise when providing tax (financial) advice services. You must use your professional judgment to determine the most appropriate method to manage conflicts of interest.

Learn more

Keep a record of your CPE/CPD

Complying with our continuing professional education/development (CPE/CPD) requirements helps maintain the knowledge and skills relevant to the services you provide.

You must maintain a record of your CPE/CPD, including the details of the activities and the hours undertaken. We may request to view evidence at any time during your registration. If you are a member of a recognised professional association, the records you keep for your association will generally meet our requirements.

Learn more about how to record your CPE/CPD

Transitional registrants - are you ready to renew?

If you registered under the transitional option, you will need to meet the standard registration requirements at your renewal. Get ready, don't risk your registration:

  • make sure you can meet the qualification and experience requirements when you renew
  • prepare your statement of relevant experience. Individual tax (financial) advisers must be able to demonstrate they have been engaged in the equivalent of between 12 months and six years of full-time relevant experience
  • update your email address and mobile number (for SMS messages) on My Profile so you don't miss important renewal messages. 

Annual declaration

As part of your ongoing registration requirements, you need to complete an annual declaration every year, except in the year of renewal.

You are responsible for your own annual declaration and you must submit it online by the due date - which is the anniversary of your renewal date. Your AFS licensee cannot do this for you.

If you do not complete your annual declaration by the due date, you may be in breach of the Code which may affect your registration.

Learn more 

Join our free webinars

Maintain your knowledge and skills by attending our free webinars. Our webinars provide updates on all the latest news affecting your tax practitioner registration. You can claim up to one hour of CPE/CPD for attending a webinar.

Register now

Making anonymous complaints

Complaints about registered or unregistered tax practitioners should be lodged using our online complaints form

You can make an anonymous complaint, but if you provide insufficient information and evidence we may not be able to act on it. Please provide as much detail as possible, including any relevant documentation to support your complaint.

Recent compliance outcomes

The TPB Board Conduct Committee (BCC) has recently imposed administrative sanctions on 77 tax practitioners, including terminating the registration of 25 tax practitioners for failures to comply with the TASA, including the Code.

Read more from our highlights 

Updated ASIC guidance 

ASIC has updated its guidance for accountants who provide services on self-managed superannuation funds to cover the exemption from the Australian financial services licensing requirements for tax and BAS agents.

Read ASIC's media release

Your feedback

We invite your feedback on topics or issues you would like us to address in future editions of TPB eNews.

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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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