20 Mar 14 TPB releases exposure draft on confidentiality of client information
On 17 March 2014, the Tax Practitioners Board (TPB) released Exposure draft TPB(I) D21/2014 Code of Professional Conduct - Confidentiality of client information for public consultation by 16 April 2014.
The Information Sheet (TPB(I)) has been prepared by the Tax Practitioners Board (TPB) to assist registered tax agents and BAS agents (registered agents) to understand their obligations under subsection 30-10(6) of the Tax Agent Services Act 2009 (TASA) (Code Item 6), which is one of the obligations of registered agents under the Code of Professional Conduct (Code).
Code Item 6 states that: 'Unless you have a legal duty to do so, you must not disclose any information relating to a client’s affairs to a third party without your client’s permission.’
The TPB has previously published an explanatory paper that sets out its view on the application of the Code, including Code Item 6 - see paras 78 to 92 of TPB(EP) 01/2010 Code of Professional Conduct.