Accountants are cool. So cool that the Government intends to legislate to prevent people impersonating us!
In all seriousness, the Government is continuing strengthening sanctions under the Tax Agent Services Act, not just for people impersonating Tax and BAS Agents, but also for ‘rogue’ tax agents that breach the Tax Agent Code of Conduct.
Accountants and Tax Agents already have significant obligations imposed by our professional bodies and under various laws. But post the “PWC tax leaks matter’ the Government is further strengthening our obligations and enabling the Tax Practitioner’s Board to impose further sanctions to help regulate the profession and enforce tax practitioner’s compliance with the law.
The Treasury has issued exposure draft legislation which will make it a criminal offence for someone to:
A penalty of 200 penalty units ($66,000) or 40 months imprisonment could apply.
We are, of course, the real thing. We are registered Tax Agents with Experience and New Thinking to deliver the best result for our clients.
If there is any assistance we can provide in these challenging times, please reach out to your usual contact at Exant Advisory, or contact our Tax Partner, Jamie Towers via the form below or on 07 3218 3900.
Author: by Jamie Towers, Tax Partner