Important Update: New Australian Tax Legislation and Your Engagement Letter
Recent changes to Australian tax legislation now require stricter procedures between tax practitioners and their clients.
To comply with updates to the Tax Agent Services Act 2009 (TASA) and Tax Practitioners Board (TPB) requirements, Tax Warehouse cannot commence any tax work, preparation, or lodgment until a signed Terms of Engagement letter has been received.
This requirement applies to all clients, including both new and existing clients.
What This Means for You
Under the updated legislation, registered tax practitioners must have clear, written agreements in place before providing tax services.
This means that before we can manage your annual tax affairs, you must first sign and return your Terms of Engagement letter.
Key Changes Under the New Requirements
1. Signed Terms of Engagement Required
A formal, signed Terms of Engagement must be in place before any professional tax services can be provided.
This document confirms:
- the scope of work we will perform
- our responsibilities as your tax practitioner
- your responsibilities as our client
- our fee-for-service arrangement
2. Safe Harbour Protections
To help protect clients from certain ATO administrative penalties, the law requires that you provide us with all relevant taxation information.
Having a signed engagement in place supports compliance with these requirements and helps ensure the appropriate protections are available.
3. Stricter Compliance Obligations
Registered tax practitioners are legally required to ensure that information provided to the ATO is complete and accurate.
If false, incomplete, or misleading information is provided, we may be required to withhold services or withdraw from the engagement.
Our Registration Details
You can verify our registration status on the official TPB Public Register using the details below:
- Practitioner Name: Graeme Milner
- TPB Registration Number: 26425005
What You Need To Do
To avoid delays with your tax return or other tax matters, please complete the following steps as soon as possible:
- Review the document
We will provide your personalised Terms of Engagement letter outlining your required services and our standard fees. - Sign and date the letter
Please read the document carefully, then sign and date the acknowledgment section. - Return it to our office promptly
We cannot begin work until the signed document has been received.
Important Notice
If your signed documentation or required information is delayed, Tax Warehouse cannot be held responsible for missed ATO deadlines, late lodgment penalties, or interest charges that may result.
Frequently Asked Questions
Why do I need to sign this if I have been a client for years?
The updated legislation requires current written agreements and explicit consent for all active clients. This replaces any previous informal, verbal, or older written arrangements.
What happens if I do not sign it?
Until your signed Terms of Engagement is on file, we are legally unable to open your matter, review your records, prepare tax documents, or lodge anything with the ATO.
Where can I learn more about my rights and obligations?
Further information about the Australian self-assessment system, record-keeping requirements, and tax practitioner obligations is included in the Rights and Obligations Appendix attached to your engagement letter.
Need Help?
If you have any questions about these legislative changes or your engagement documents, please contact Graeme Milner at Tax Warehouse.
