The Tax Practitioners’ Board (TPB) has issued for comment the following exposure draft information sheets:
- Exposure draft TPB (I) D17/2013 (Code of Professional Conduct – reasonable care to ascertain a client’s state of affairs) – This Draft Information sheet provides guidance on the application of Code Item 9. Code Item 9 requires registered agents to take “reasonable 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. COMMENTS are due by 29 August 2013.
- Exposure draft TPB (I) D18/2013 (Code of Professional Conduct – reasonable care to ensure taxation laws are applied correctly) – This Draft Information sheet provides guidance on the application of Code Item 10. Code Item 10 requires registered agents to take reasonable care to ensure that taxation laws are applied correctly to the circumstances in relation to which the registered agent is providing advice to a client. COMMENTS are due by 29 August 2013.
- Exposure draft TPB (I) D19/2013 (Code of Professional Conduct – managing conflicts of interest). This Draft Information sheet provides guidance on the application of Code Item 5. Code Item 5 provides that registered agents must have in place adequate arrangements for the management of conflicts of interest that may arise in relation to activities that are undertaken in the capacity of a registered agent. COMMENTS are due by 13 September 2013.
[LTN 148, 2/8/13]