Commonwealth Consolidated Acts

TAX AGENT SERVICES ACT 2009 - SECT 90.15

  (1)   A tax (financial) advice service is a * tax agent service (other than within the meaning of subparagraph   (1)(a)(iii) of the definition of that expression) provided by a * financial services licensee or a * representative of a financial services licensee in the course of giving advice of a kind usually given by a financial services licensee or a representative of a financial services licensee to the extent that:

  (a)   the service relates to:

  (i)   ascertaining liabilities, obligations or entitlements of an entity that arise, or could arise, under a * taxation law; or

  (ii)   advising an entity about liabilities, obligations or entitlements of the entity or another entity that arise, or could arise, under a taxation law; and

  (b)   the service is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes:

  (i)   to satisfy liabilities or obligations that arise, or could arise, under a taxation law;

  (ii)   to claim entitlements that arise, or could arise, under a taxation law.

  (2)   The Board may, by legislative instrument, specify that another service is a tax (financial) advice service .

  (3)   However, a service is not a tax (financial) advice service if:

  (a)   it consists of preparing a return or a statement in the nature of a return; or

  (b)   it is specified in the regulations for the purposes of this paragraph.