Miscellaneous 2013

Review of tax agent services regime with a focus on reasonable care

Source: New South Wales

Published Date: 27 Jun 2013

 

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Looking at the issues from the perspective of an SME practitioner, this paper explores:

  • What the Tax Agent Services Code of Conduct requires, particularly in respect of the need to take reasonable care
  • What level of reliance can a tax agent place on a client’s records?
  • What records must a client keep and why?
  • Does a tax agent need to conduct some form of detailed review or audit of a client’s records in order to satisfy the reasonable care requirement?
  • Can a tax agent exclude particular aspects from the scope of their engagement and still meet the reasonable care requirement?
  • Is it possible to meet the best practice standards expected by the ATO?
  • What happens if a tax agent doesn’t meet the standard expected by the ATO?

Individual Session

Review of tax agent services regime with a focus on reasonable care

Author(s): Adrian Abbott CTA

Details

  • Published By: Adrian Abbott CTA
  • Published On:27 Jun 2013
  • Took place at:Hilton, Sydney

The material is copyright. Apart any fair dealing for the purpose of private study, research criticism or review, as permitted under the copyright Act, no part may be reproduced by any process without written permission from The Tax Institute.

Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

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The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

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