The Tax Practitioners Board (TPB) has reminded financial advisers who provide tax advice that they can notify the Board to be registered as tax (financial) advisers from next month. The TPB said the notification period begins on 1 July 2014 and ends on 31 December 2015. During this notification period, Australian financial services (AFS) licensees and their authorised representatives who provide tax (financial) advice services will need to either:
- notify the TPB to become registered as a tax (financial) adviser; or
- use a relevant disclaimer when they provide tax (financial) advice services for a fee or other reward.
The Board said Australian financial services (AFS) licensees will soon receive a letter from the TPB with login details to access the online notification form. AFS licensees will be able to notify for registration on behalf of their authorised representatives. Further details on the notification option are available on the TPB website.
Source: TPB media release, 1 June 2014
[LTN 104, 2/6/14]