11 Nov 2021 Tax Practitioners Board
TPB releases guidance on supervisory arrangements
The Tax Practitioners Board (TPB) has finalised guidance on the supervisory arrangements requirements under the Tax Agent Services Act 2009 (TASA). The TPB’s draft guidance was released for public consultation on 31 May 2021.
The TASA requires all partnership and company entities to meet the ‘sufficient number’ requirement. The guidance will assist these entities to understand what this requirement means and what they need to do to meet this requirement.
The guidance includes helpful measures that will assist tax practitioners to ensure they have adequate supervisory arrangements in place, including where remote work arrangements exist. Tax practitioners can also apply these measures in franchise arrangements to ensure effective supervision is provided.
Talk to your clients about scams
The TPB is reminding you to talk to your clients about scams during Scams Awareness Week.
Scams Awareness Week is an annual campaign dedicated to raising awareness of scams. This year, Scams Awareness Week is being held from 8 to 12 November with the theme ‘Let’s talk scams’. There are lots of online resources and activities you can access throughout the week to help increase your awareness of scams. Find out more here.