The Australian Government has introduced important changes to the Tax Agent Services Act 2009 (TASA) to strengthen the integrity and professionalism of tax practitioners. These changes affect how your tax agent operates and what you can expect from them.
📜 New Code of Professional Conduct Obligations
From 1 July 2025, all tax practitioners must comply with eight new ethical and professional obligations, including:
- Upholding ethical standards – acting with honesty and integrity at all times.
- Avoiding false or misleading statements – even if made unintentionally on behalf of a client.
- Maintaining independence – avoiding conflicts of interest.
- Protecting confidentiality – safeguarding your personal and financial information.
- Demonstrating competence – staying up to date with tax laws and best practices.
- Implementing quality management systems – ensuring consistent, high-quality service.
- Keeping clients informed – providing timely updates and clear communication.
- Reporting breaches – practitioners must report significant misconduct, including their own.
🛡️ Whistleblower Protections
- Practitioners and others can now report misconduct with legal protections, encouraging transparency and accountability.
🔍 Extended Investigation Periods
- The Tax Practitioners Board (TPB) now has more time to investigate complaints and conduct audits, improving oversight.
✅ What This Means for You
- You can expect higher standards of service, ethics, and communication from your tax agent.
- Your practitioner is now legally required to act in your best interest and report serious issues.
- These changes aim to protect you and ensure the tax system remains fair and trustworthy.
If you have any questions about how these changes affect your relationship with us, feel free to ask!
Click here for more Information for clients – Taxpayers