The Tax Practitioners Board (TPB) has issued the following Information Sheets:
- TPB(I) 23/2014 Sufficient number requirement for partnership and company registered tax (financial) advisers – assists entities to understand the Board’s approach to the sufficient number requirement for registration or renewal of registration as a tax (financial) adviser from 1 January 2016.
- TPB(I) 22/2014 Fee or other reward for tax (financial) advisers – assists entities to determine what constitutes a fee or other reward for tax (financial) advisers.
[LTN 1, 5/1/15]
Extract from TPB(I) 23/2014 – ‘sufficent number’ requirement
From 1 January 2016, partnerships and companies seeking registration or renewal of registration as a tax (financial) adviser will need to meet the sufficient number requirement. This means that these entities will need to have a sufficient number of individuals, being registered tax agents or registered tax (financial) advisers, to provide tax (financial) advice services to a competent standard, and to carry out supervisory arrangements.