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The Taxation Institute has been advised that subject to the approval of the incoming government, a discussion paper will be released for comment on the way forward in relation to financial planners and the tax agent services regime. This follows the recent release by the Government of draft regulations on the coverage of the Regime, including providing a 12 month exemption for planners from April 2010. We welcome the extra opportunity that the discussion paper will provide to strongly argue the case for financial planners to be included in the Regime, so that people receiving and relying on tax advice can expect that the adviser not only meets the new Regime's requirements but that they as a client are covered by the protective measures that it offers.

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