31 Oct 11 Reports or other advice incorporating tax agent services provided by a third party
On 17 October 2011, the Tax Practitioners Board issued Information Sheet TPB(I) 08/2011 entitled "Reports or other advice incorporating tax agent services provided by a third party".
This information sheet deals with the situation where an entity (the issuer), for a fee or other reward, provides a report or other advice containing tax-related information:
- that is provided by a third party;
- which relates to ascertaining or advising on liabilities, entitlements or obligations of an another entity (the client) as referred to in subparagraphs 90-5(1)(a)(i) and (ii) of the Tax Agent Services Act 2009 (TASA); and
- the circumstances are such that the client is reasonably likely to rely on the advice of the third party for the purposes set out in subparagraphs 90-5(1)(b)(i) and/or (ii) of the TASA.