Module 3 - FA1

Chapter 9: Tax Agents

Learning Outcome Describe the duties, obligations and requirements for registration as a tax agent and the regulatory framework within which tax agents operate.

Content:

Regulatory framework for tax agents:

The Tax Agent Services Act 2009 Tax Agent Services Regulations

Tax Practitioners Board

 Procedural requirements for registration and re-registration as a tax agent, including the requirement to be of a “fit and proper person”.

 Academic and relevant experience requirements for registration as a tax agent.

Ethics and Professional responsibility of tax agents:

Code of Professional Conduct Continuing Professional Education

Charging of fees

Advertising

False representations Supervision and control

Negligence

 Professional indemnity insurance requirements

Safe Harbour protection.

Engagement Letter and Tax Return Checklist.

Tax agent lodgment program.

 Circumstances in which tax agent registration may be terminated.

 Right of appeal against Tax Practitioners Board decisions.

 Circumstances in which the Tax Practitioners Board must be notified.

Online services for tax agents.

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