The Tax Practitioners Board (TPB) on Fri 14.9.2012, issued for comment the following Draft Information Sheets:
- (Code of Professional Conduct – reasonable care to ascertain a client’s state of affairs) – covers Code Item 9. Under Code Item 9, registered tax and BAS agents must take TPB(I) D15/2012reasonable care in ascertaining a client’s state of affairs, to the extent that ascertaining the state of those affairs is relevant to a statement they are making or a thing they are doing on behalf of the client.
- TPB(I) D16/2012 (Code of Professional Conduct – reasonable care to ensure taxation laws are applied correctly) – covers Code Item 10. Under Code Item 10, registered tax and BAS agents must take reasonable care to ensure that taxation laws are applied correctly to the circumstances in relation to which the agent is providing advice to a client.
The Drafts set out the background of Code Items 9 and 10, the consequences for failing to comply, practical examples. They are available on the TPB website.
COMMENTS are due by 13 November 2012.
[LTN 179, 14/9]