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09 Nov 2018 ASIC registered agent

MEMBER 366 writes:

Besides being a registered tax agent, I am also an ASIC registered agent. I have been sent updated Terms and Conditions. In both cases, yes, we are being paid by our client, but the principal beneficiaries are the ATO or ASIC as only with our help do they collect tax or update their register respectively. The Terms and Conditions contain a clause 7.2 that is basically censorship of ASIC agents’ views by the threat of taking away their agency. I agree that the lawyer who wrote this clause can claim that it actually does not say this because of their skilful drafting but the threat is clearly there. The whole document is a prescriptive attack on ASIC agents and has no recognition that, like tax agents, we make the system work. 

From the document it is clear that none of the professional bodies have been consulted in its drafting.

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