In this 2 part episode series of Tax Yak, George Housakos yaks with Vincent Licciardi on two very hot issues for the new financial year of 2024/25: The new tax agent breach reporting regime and new Code of Conduct of professional conduct determination.

Host: George Housakos | Senior Tax Trainer, TaxBanter
Guest: Vincent Licciardi | Partner, HWL Ebsworth

This episode, we will focus on the new tax agent breach reporting regime, whereby the TPB has provided guidance material pursuant to TPB (I) D53/2024 (which came into effect on 1 July 2024, whereby tax practitioners (which includes Tax and BAS agents) gain an understanding of the updated breach reporting obligations under section 30-35 and 30-40 of the Tax Agents Services Act (TASA) 2009.

These obligations require registered tax practitioners to mandatorily report on two matters:

‘Significant breaches’ of the Code of Professional Conduct in the TASA relating to their own conduct to the Tax Practitioners Board (TPB); &
‘Significant breaches’ of the Code of Professional Conduct by other tax practitioners in the TASA to the TPB and the recognised professional association of that tax practitioner.




 

Want to get maximum understanding of the recent reforms and planned changes? Join us on 30 August for our comprehensive webinar tax practitioner breach reporting and beyond!