13 Jan 10 Guidelines for professional indemnity insurance and continuing professional development
In a media release issued on 23 December 2009, the Chair of the Tax Practitioners Board, Dale Boucher, announced that the Board will take a consultative approach to preparing guidelines for new Tax Agent Services scheme.
Dale Boucher said “the Board will issue guidelines to assist tax agents and BAS agents registering [under the] new scheme. We will take a consultative approach in promulgating any guidelines and adequate notice will be given to those who might be assisted by the guidelines before they are issued.”
Two priority areas for issuing guidelines are professional indemnity insurance and continuing professional development. The Board recognises that these issues are important and warrant full consideration and consultation by the Board with all relevant stakeholders.
Mr Boucher said “any insurance or continuing professional development conditions would only be required by the Board following full consideration and consultations by the Board. So, insurance or continuing professional development guidelines will not be available from Day 1, but would be prepared as soon as possible after then. Of course, it would be sensible for anyone that currently has insurance to maintain their policies”.
For a copy of the media release, 23 December 2009, go here