The Tax Practitioners Board (TPB) has released for comment Exposure Draft Information Sheet TPB(I) D21/2014 (Code of Professional Conduct – Confidentiality of client information).

The Draft aims to assist registered tax and BAS agents understand their obligations under s 30-10(6) of the Tax Agent Services Act 2009 (TASA) (Code Item 6), which is one of the obligations of registered agents under the Code of Professional Conduct. Code Item 6 states that: “‘Unless you have a legal duty to do so, you must not disclose any information relating to a client’s affairs to a third party without your client’s permission.” The Draft explains how to comply with the Item, the consequences for failing to comply with it, and practical examples involving Code Item 6.

COMMENTS are due by 16 April 2014.

[LTN 52, 18/3/14]