You have 16 work days from 9 July to comply with the government's new Tax Agent Services (Code of Professional Conduct) Determination 2024.
If you don't get this done, you could be forced into the new mandatory breach reporting rules; if you get caught, they could take your tax agent licence away. We couldn't make this up if we tried.
The determination slaps even more over-regulation on you, and they don't care if you are a micro, mid-sized or large firm.
AND if you don't have these things in place by 1 August 2024 – is it possible that you will have to self-report yourself as a breach to the TPB? This is insanity!
One of the changes requires you to have a System of Quality management:" We've got your back here, we're going to give you one for free.
Join the webinar to get your complimentary System of Quality Management to help you comply with the new law.
Join ChangeGPS Founder Timothy Munro, General Manager David Boyar and Former Tax Institute President and Tax Lawyer Arthur Athanasiou to learn what you have to get done before 1 August 2024 to comply with the law - we hope you are sitting down because some of these are backdated 2 years:-
1. You must establish and maintain a system of quality management.
2. Retain all your interviews, files, opinions, assumptions, workpapers, logic, and decision-making advice for 5 years. This is not the same as the current 7-year client record-keeping rules. Now, the rules apply to YOU.
3. Ensure Competency for all services you offer and have objective evidence you are competent.
4. You must advise all current and prospective clients of any matter that could significantly influence the decision of a client to engage you or to continue to engage you to provide a tax agent service. This potentially includes any health issues, partnership disputes or staff shortages you have.
And before you say, "They'll never regulate this", consider that:-
1. It is the law, and
2. The TPB is getting more and more funding – we'll discuss the actual risk in the web event.
This webinar is brought to you by ChangeGPS and our friends, who care about how you run your practice.
* ChangeGPS
* The Access Group including:
- Access Accountants
- Access HandiSoft
- Access APS
- Access Elite
- Fathom
* ATOmate
Presenters
David Boyar
General Manager, ChangeGPS
David joined ChangeGPS as GM of Growth and then CEO to drive the development of the industry after founding The Virtual CFO Association and co-hosting 'From the Trenches'—Australia's #2 iTunes business podcast. David's one of the youngest Fellow Chartered Accountants in Australia. He loves using accounting to help Aussie mums and dads so much that he did a TedX talk on it.
Timothy Munro
Founder & Executive Director, ChangeGPS
Tim founded ChangeGPS after founding the award-winning accounting firm Change Accountants & Advisors. Tim is a former Director and Queensland President of the Institute of Public Accountants. He lives and breathes his professional passion for accounting. At ChangeGPS Tim fuels the vision for a better accounting industry using technology and best practice. Outside work, Tim’s a parent, drummer, and cricket-player.
Arthur Athanasiou
Partner at Thomson Geer Adjunct Professor La Trobe University Law School
Arthur is a tax partner at Thomson Geer. Arthur’s main area of practice is dispute resolution, particularly in the SME sector, with the ATO, TPB and the SRO, and in particular with investigations and enquiries. Arthur is an Associate Professor at La Trobe University Law School. He has qualified as a Chartered Accountant, is a former President of The Tax Institute, and chaired the Law Institute’s Tax Law Advisory Committee. Arthur is an Accredited Tax Law Specialist, is a widely published writer on taxation issues and regularly appears in the mainstream media.