From 1 July 2025 tax practices (with 100 or less employees) will need to comply with the 8 new obligations under the Tax Agent Services Act Code of Professional Conduct.
The Tax Practitioners Board (TPB) website lists all the obligations under the Code of Professional Conduct.
The 8 new obligations relate to:
Upholding and promoting the ethical standards of the tax profession
False or misleading statements
Conflicts of interest in activities undertaken for government
Maintaining confidentiality in dealings with government
Keeping of proper client records
Ensuring tax agent services provided on your behalf are provided competently
Quality management systems
Keeping your clients informed.
The TPB has published the following finalised guidance products which explain how the 8 new obligations will apply.
TPB(I) 44/2024 Upholding and promoting the ethical standards of the tax profession
TPB(I) 45/2024 False or misleading statements
TPB(I) 46/2024 Managing conflicts of interest when undertaking activities for government and maintaining confidentiality in dealings with government
TPB(I) 47/2024 Obligation to keep proper client records of tax agent services provided
TPB(I) 48/2024 Supervision, competency and quality management under the Tax Agent Services Act 2009
TPB(I) 49/2024 Keeping your clients informed.
One of the obligations is keeping clients informed of certain information, including providing clients a copy of the TPB’s factsheet which contains general information for clients. The information for Client’s factsheet can be accessed via the TPB website or by accessing the following hyperlink:
https://www.tpb.gov.au/sites/default/files/2025-03/Information%20for%20clients%20factsheet%202025_0.pdf
