Advocacy Update: Amendments to Tax Agent Services (Code of Professional Conduct) Determination 2024 Tabled for Comments 

There has been significant advocacy work by the profession since the Tax Agent Services (Code of Professional Conduct) Determination 2024 was registered on 2 July 2024, which has resulted in amendments to the determination.  
 
Assistant Treasurer Stephen Jonesreleased the amendments to the determination yesterday for public consultation, and submissions are due by 2 October 2024. 
 
The amendments for the tax practitioner code of conduct instrument can be viewed at: Amending tax practitioner code of conduct instrument | Treasury.gov.au 

Significant progress has been made to address member concerns aboutthe controversial client disclosure provisions in section 45, andthe client ‘dob-in’ provisions in section 15.  

With respect to client disclosures, members are now only required todisclose significant matters in the public domain. The matters include bankruptcy, fraud convictions, dishonesty, serious tax offences, or promoter penalties, and suspensions or terminations by the Tax Practitioners Board.  

The intent of the amendments for the client ‘dob-in’ provisionswas to align the obligations in section 15 with principles relating to the ‘Non-Compliance with Laws and Regulations’ from the Accounting Professional and Ethical Standards Board Code of Ethics (APES), and the principles relating to the disengagement of clients in APES 220 (Taxation Services).  
 
While the threshold for reporting false or misleading statements has been raised substantially, thereis still a positive obligation for members if substantial harm has been caused, or is likely to be caused.  
 
APES obligations urge members to consider using professional judgement before notifyingthe relevant authorities.    
 
Please contact [email protected]with any comments or concernsabout the amendments by 1 October 2024.