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17 Sep 12 Two Exposure drafts released

On 14 September 2012, the Tax Practitioners Board (TPB) released the following 2 draft Information sheets as Exposure drafts:

  • TPB(I) D16/2012 - Code of Professional Conduct – reasonable care to ensure taxation laws are applied correctly
  • TPB(I) D15/2012 - Code of Professional Conduct – reasonable care to ascertain a client’s state of affairs

TPB(I) D16/2012 has been prepared by the TPB to assist registered tax agents and BAS agents (registered agents) to understand their obligations under the Code of Professional Conduct (Code) in relation to taking reasonable care to ensure that taxation laws are applied correctly to the circumstances in relation to which they are providing advice to a client (Code Item 10).

TPB(I) D15/2012 has been prepared by the TPB to assist registered tax agents and BAS agents (registered agents) to understand their obligations under the Code in relation to taking reasonable care in ascertaining a client’s state of affairs, to the extent that ascertaining the state of those affairs is relevant to a statement the agent is making or a thing the agent is doing on behalf of the client (Code Item 9).

In media release issued 19 September 2012, the Tax Practitioners Board (TPB) refers to the release of the two Exposure Drafts on what registered tax agents and BAS agents need to do to take reasonable care in their work.

"I encourage stakeholders to engage with the TPB and to provide comments on these important exposure drafts,” the Chairman of the TPB, Dale Boucher said.

The closing date for submissions is 13 November 2012.

 


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