The Government has revised the Tax Agent Services (Code of Professional Conduct) Determination 2024, following the opposition and concerns of tax practitioners.
The Determination was revised on 8 October 2024, with effect from 1 July 2025 for most tax practitioners. Larger firms, with 100 or more employees, will need to comply by 1 January 2025.
To support implementation, the Tax Practitioners Board (TPB) will issue draft guidance for broad public consultation, with the aim to finalise guidance in December 2024.
TPB Chair Peter de Cure AM said, ‘These changes to the Determination provide additional certainty to tax practitioners on the intent and scope of the new Code obligations. This includes setting out the specific matters tax practitioners need to inform their clients about, which does not include information relating to the tax practitioner’s health or their personal beliefs.’
Issued in July to lift public trust and confidence in the tax profession, the Tax Agent Services (Code of Professional Conduct) Determination 2024 introduced 8 new obligations to supplement the existing obligations under the Code of Professional Conduct.
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