CODE OF PROFESSIONAL CONDUCT

1. We must act honestly and with integrity.
2. We must comply with the taxation laws in the conduct of our personal affairs.
3. If we:

• receive money or other property from or on behalf of a client, and
• hold the money or other property on trust

we must account to our client for the money or other property.

4. Independently, and in cooperation with other registered tax agents and BAS agents, we must:

• uphold and promote the Code of Professional Conduct; and
• not engage in any conduct that we know, or ought reasonably to know, may:

1. undermine public trust and confidence in the integrity of the tax profession (including conduct that discredits the tax profession or brings the tax profession into disrepute); or
2. undermine public trust and confidence in the integrity of the tax system; and

• not engage in any conduct that we know, or ought reasonably to know, may undermine the collective work of registered tax agents and BAS agents, as a tax profession, to uphold and promote:

1. the Code of Professional Conduct; and
2. public trust and confidence in the integrity of the tax profession and tax system; and
3. each member of the profession being held accountable for their individual conduct.

5. False or Misleading Statements:

Statements made to the Board or the Commissioner

We must not:

• make a statement to the Board or the Commissioner; or
• prepare a statement that we know, or ought reasonably to know, is likely to be made to the Board or Commissioner by an entity; or
  permit or direct someone else to make or prepare such a statement;

that we know, or ought reasonably to know, is false, incorrect or misleading in a material particular, or omits any matter or thing without which the statement is misleading in a material respect, in our capacity as a registered tax agent or BAS agent or in any other capacity.

As soon as possible after we become aware that a statement given to the Board or Commissioner was false, incorrect or misleading in a material particular at the time it was made, or omitted any matter or thing without which the statement is misleading in a material respect, we must take all reasonable steps to:

• where we made the statement (or permitted or directed someone else to make the statement)—correct the statement; and
• where we prepared the statement (or permitted or directed someone else to prepare the statement)—advise the maker of the statement that the statement should be corrected; and
• where we prepared the statement and the maker does not correct the statement within a reasonable time—notify the Board or Commissioner that the statement is false, incorrect or misleading in a material particular, or omitted some matter or thing without which the statement is misleading in a material respect.

Statements made to other Australian government agencies

We must not:

• make a statement to an Australian government agency; or
• prepare a statement that we know, or ought reasonably to know, is likely to be made to an Australian government agency by an entity; or
• permit or direct someone else to make or prepare such a statement;

that we know, or ought reasonably to know, is false, incorrect or misleading in a material particular, or omits any matter or thing without which the statement is misleading in a material respect, in our capacity as a registered tax agent or BAS agent or in any other capacity.

1. We must act lawfully in the best interests of our clients.
2. We must have in place adequate arrangements for the management of conflicts of interest that may arise in relation to the activities that we undertake in the capacity of a registered tax agent.
3. Conflicts of interest in dealings with government:

In relation to any activities we undertake for an Australian government agency in a professional capacity, we must:

• take reasonable steps to identify and document any material conflicts of interest (real or apparent) in connection with an activity undertaken for the agency; and
• disclose the details of any material conflict of interest (real or apparent) that arises in connection with an activity undertaken for the agency to the agency as soon as we become aware of the conflict; and
• take reasonable steps to manage, mitigate, and where appropriate and possible, avoid, any material conflict of interest (real or apparent) that arises in connection with an activity undertaken for the agency (except to the extent that the agency has expressly agreed otherwise).

1. Unless we have a legal duty to do so, we must not disclose any information relating to a client’s affairs to a third party without our client’s permission.
2. Maintaining confidentiality in dealings with government:

Disclosure

Unless we have a legal duty to do so, we must not disclose any information we have received, directly or indirectly, from an Australian government agency, in connection with any activities we undertake with the agency in a professional capacity, except to the extent that all of the following apply:

• it is reasonable to conclude that the information received from the agency was authorised by that agency for further disclosure; and
• any further disclosure of the information is done consistently with the agency’s authorisation.

Use for personal advantage

We must not use any information we have received, directly or indirectly, from an Australian government agency, in connection with any activities we undertake with the agency in a professional capacity, for our personal advantage, or for the advantage of an associate, employee, employer or client of ours, except to the extent that all of the following apply:

• it is reasonable to conclude that the information received from the agency was authorised by that agency to be used in a way that may provide for such an advantage; and
• any further use of the information was done consistently with the agency’s authorisation.

1. We must ensure that a tax agent service that we provide, or that is provided on our behalf, is provided competently.
2. We must maintain knowledge and skills relevant to the tax agent services that we provide.
3. We must take 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 we are making or a thing we are doing on behalf of a client.
4. We must take reasonable care to ensure that taxation laws are applied correctly to the circumstances in relation to which we are providing advice to a client.
5. Keeping of proper client records:

We must keep records that correctly record the tax agent services we have provided, or that are provided on our behalf, to each of our clients, including former clients.

The records must:

• be in English, or readily accessible and easily convertible into English; and
• be retained for at least 5 years after the service has been provided; and
• show the nature, scope and outcome of the tax agent service provided; and
• include all relevant information considered in the provision of the tax agent service (including information exchanged with the client, advice provided to the client, and for more complex matters: the relevant facts, assumptions and reasoning underpinning any advice provided to the client).

6. Ensuring tax agent services provided on our behalf are provided competently

• We must ensure that each entity providing tax agent services on our behalf maintains knowledge and skills that are relevant to the tax agent services the entity is providing.
• We must ensure that each entity providing tax agent services on our behalf is appropriately supervised, having regard to knowledge and skills of the entity, the tax agent services being provided by the entity, and our system of quality management.

1. We must not knowingly obstruct the proper administration of the taxation laws.
2. We must advise our client of the client’s rights and obligations under the taxation laws that are materially related to the tax agent services we provide.
3. We must maintain the professional indemnity insurance that the Board requires us to maintain.
4. We must respond to requests and directions from the Board in a timely, responsible and reasonable manner.
5. Quality management systems:

• We must establish and maintain a system of quality management, in relation to the provision of tax agent services by us, or on our behalf, which is designed to provide us with reasonable confidence that you are complying with the Code of Professional Conduct.
• We must document and enforce the policies and procedures of our system of quality management.

Note: A system of quality management includes policies and procedures relating to governance and leadership, monitoring of performance, adherence to the Code of Professional Conduct, client engagement, proper keeping of records, protecting confidentiality of information, the management of conflicts of interest, and the recruitment, training and management of employees.

6. Keeping our clients informed of all relevant matters.

Obligation

• We must advise all current and prospective clients of all of the following:

1. any matter that could significantly influence a decision of a client to engage us, or to continue to engage us, to provide a tax agent service;
2. that the Board maintains a register of tax agents and BAS agents and how they can access and search the register;
3. how they can make a complaint about a tax agent service we have provided, including the complaints process of the Board.

Manner and form requirements

• Where we are required to advise clients of such information, we must do so:

• by giving the information in writing to current and prospective clients in a prominent, clear and unambiguous way; and
• for information covered by subsection (i) above, and we are aware of a matter that could significantly influence a decision of a client to engage us — we must provide this information at the time of the inquiry or, otherwise—within 30 days of becoming aware of the matter; and
• for information relating to (ii) or (iii), upon engagement or re-engagement of a client (as the case requires), or upon receiving a relevant request.

To see our Terms of Engagement click here.