Commonwealth Consolidated Acts

TAX AGENT SERVICES ACT 2009 - SECT 90.15

  (1)   A tax (financial) advice service is a * tax agent service (other than within the meaning of subparagraph   (1)(a)(iii) of the definition of that expression) provided by a * financial services licensee or a * representative of a financial services licensee in the course of giving advice of a kind usually given by a financial services licensee or a representative of a financial services licensee to the extent that:

  (a)   the service relates to:

  (i)   ascertaining liabilities, obligations or entitlements of an entity that arise, or could arise, under a * taxation law; or

  (ii)   advising an entity about liabilities, obligations or entitlements of the entity or another entity that arise, or could arise, under a taxation law; and

  (b)   the service is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes:

  (i)   to satisfy liabilities or obligations that arise, or could arise, under a taxation law;

  (ii)   to claim entitlements that arise, or could arise, under a taxation law.

  (2)   The Board may, by legislative instrument, specify that another service is a tax (financial) advice service .

  (3)   However, a service is not a tax (financial) advice service if:

  (a)   it consists of preparing a return or a statement in the nature of a return; or

  (b)   it is specified in the regulations for the purposes of this paragraph.

You must be registered to provide tax agent services for a fee or to engage in other conduct connected with providing such services. You will be eligible for registration if you are a fit and proper person and have appropriate qualifications and experience.

If you are eligible and apply to the Tax Practitioners Board for registration as a registered tax agent or BAS agent, you will be registered for a period of at least 3 years. Your registration may be subject to conditions. You may seek to vary these conditions.

Certain events, mainly relating to criminal convictions and bankruptcy, may affect your continued registration.

You may also apply to have your registration renewed.

The Code of Professional Conduct regulates your personal and professional conduct as a registered tax agent or BAS agent.

If the Board investigates you and finds that you have failed to comply with the Code, the Board may give you a written caution, order you to take specified actions, or suspend or terminate your registration.

You must also notify the Board if certain circumstances change, including if you cease to meet the requirements for registration.

A registered tax agent or BAS agent must be approved to employ, or use the services of, a disqualified entity to provide tax agent services on the registered tax agent or BAS agent's behalf (see subsection   30 - 10(15) and section   50 - 25). Approval is sought by application to the Board.

An entity is a disqualified entity if, among other things, the entity is subject to sanctions under this Act or has been convicted of certain offences.

A disqualified entity must give notice to a registered tax agent or BAS agent in relation to being a disqualified entity:

  (a)   when seeking to provide, or providing, tax agent services on the registered tax agent or BAS agent's behalf; or

  (b)   if the entity is seeking to enter an arrangement, or has an arrangement, with the registered tax agent or BAS agent in connection with the provision of tax agent services by the registered tax agent or BAS agent.

This Division contains civil penalty provisions. If you contravene a civil penalty provision, the Board may apply to the Federal Court for an order that you pay a pecuniary penalty.

You may contravene a civil penalty provision if you are unregistered and provide tax agent services for a fee, advertise that you can provide such services or represent yourself as registered.

You contravene a civil penalty provision if you are neither registered nor a qualified tax relevant provider and you provide tax (financial) advice services for a fee or advertise that you can provide such services.

You also contravene a civil penalty provision if you are registered and you make a false or misleading statement, employ or use the services of an entity whose registration has been terminated, or sign a declaration or statement that was prepared by an unregistered entity who was not working under the supervision or control of a registered tax agent or BAS agent.

This Division establishes the Tax Practitioners Board and contains administrative provisions relating to Board appointments and Board procedures.

Comprising at least 7 Board members, the Board has functions and powers relating to the operation of this Act, including investigating your application for registration and conduct that may breach this Act. For the purposes of an investigation, the Board may oblige you to give it information.

The Board must also report to the Minister on its operations each year, maintain a register of registered tax agents and BAS agents, and publish decisions to terminate or suspend the registration of a registered tax agent or BAS agent.