How well do you trust your tax adviser ?

Discussion in 'Accounting & Tax' started by Paul@PAS, 4th Apr, 2019.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Who has read the recently passed Treasury Laws Amendment (Enhancing Whistleblower Protections) Act 2019 ??

    Nobody you say.

    This alarming piece of law exempts tax practitioners from breaching the Code of Conduct for tax advisers if they provide information on unlawful clients. (Part IVD of the Act)

    This goes against everything we have been taught as tax advisers. What the client tells me is confidential until a court or a legal obligation forces me to disclose something. It remains to be seen how the tax practitioners board addresses the impact of this law which allows protection to people to drop a client under a bus.
     
    Paul@PAS, 4th Apr, 2019
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  2. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Interesting. I wonder what comes next? Lawyers?
     
    Peter_Tersteeg, 4th Apr, 2019
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  3. D.T.

    D.T. Specialist Property Manager Business Member

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    If i didnt trust them i wouldnt use them, and have changed a couple of times as a result
     
    D.T., 4th Apr, 2019
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  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    A lawyer can in some cases it seems. But they, like an accountant, knows it may mean being struck off. (Each Professional Body will need to consider its position on this law) BUT...the affected person (the "professional") may be able to seek damages for being identified.
     
    Paul@PAS, 4th Apr, 2019
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  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    If you are committing crimes it would be best not to tell anyone wouldn't it?
     
    Terry_w, 4th Apr, 2019
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  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Some people dont think of crime when they do something wrong. Its only a crime when you are convicted - right ?
     
    Paul@PAS, 4th Apr, 2019
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  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    a friend asked me about a speeding matter. He was horrified when I said I don't do criminal law - if it is not criminal law what do you think it is!
     
    Terry_w, 4th Apr, 2019
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  8. Nodrog

    Nodrog Well-Known Member

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    It’s just another example of Australia being strangled to death with regulation / red tape. And it’s about to get even worse if there’s a change of Gov’t. Never been so disgusted with both sides of Gov’t.
     
    Nodrog, 4th Apr, 2019
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  9. Blueskies

    Blueskies Well-Known Member

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    Blueskies, 4th Apr, 2019
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