Are you a tax agent providing restructuring advice so that your client can obtain Covid19 JobKeeper?

The Tax Practitioners Board (TPB) has provided clear instructions on your obligations as a tax agent during COVID-19, including JobKeeper. During the quiet period at the ATO, the TPB has been focusing on tax agents and conducting various investigations.

When advising your clients on JobKeeper, you should be acting honestly and with integrity. There have been instances where clients have asked for advice in relation to backdating structure changes or employee arrangements to access JobKeeper.

As a tax agent, your obligations under the Code of Professional Conduct in the Tax Agent Services Act 2009:

• acting honestly and with integrity
• advising lawfully in your best interests
• advising you of any conflicts of interest
• taking reasonable care to ascertain your state of affairs
• taking reasonable care to apply the tax laws correctly
• providing their services competently
• not knowingly obstructing the administration of the tax laws
• advising you of your rights and obligations under the tax laws
• not making false or misleading statement to the ATO

If you are providing advice to clients during COVID-19, ensure you are doing your due diligence in obtaining proper instruction from your clients, reviewing relevant taxation laws, and obtaining appropriate evidence prior to finalising any advice.

If you are subject to ‘preliminary enquiries’ or an ‘investigation’, Waterhouse Lawyers can assist you through the process. Please contact us at 02 9252 8746 or admin@waterhouselawyers.com.au