The Tax Practitioners Board (TPB) has issued for comment Exposure Draft Proposed TPB Guideline TPB(PG) D04/2013 (Course in Australian taxation law that is approved by the Board for tax (financial product) advisers). The Draft Guideline sets out the preliminary views of the Board in relation to the meaning of “a course in Australian taxation law that is approved by the Board” for tax (financial product) advisers.
The preliminary views of the Board are based upon the draft legislation released by the Government on 8 February 2013 to create a regulatory framework for tax advice (financial product) services. As the relevant legislation is yet to be introduced into Parliament, the contents of the Board’s draft guideline are subject to change.
Among other things, the purpose of the Draft is to help potential registrants understand the factors that provide the basis for the Board’s approach to the educational eligibility requirements for registration as a tax (financial product) adviser with the Board. The Draft includes information relating to the following aspects of a course: topics and learning outcomes, duration, course providers, education level, manner of delivery, assessment and currency. In the Board’s preliminary view, a “course” in Australian taxation law should be of sufficient breadth to equip a tax (financial product) adviser to advise the public on the diverse range of tax issues.
COMMENTS are due by 21 May 2013.
[LTN 57, 25/3/13]