Note: This paper has been adapted by a paper written and presented by the author at the 2009 National Convention.
All tax agents need to review their structures and procedures to ensure they are not in breach of any of the requirements of the new regime.
This paper focuses on what you need to do to ensure that the new regime will not adversely affect the ongoing operation of your practice including:
- your obligations under the Code of Professional Conduct
- adequate supervision and control of employees and contractors
- what you need to do if you are outsourcing to related entities, Australian entities or offshore entities
- updating engagement letters and ensuring instructions are adequate.