Tax agent Australia: Tax agents in Australia must be licensed and regulated by the Australian Taxation Office (ATO).
1) The first task that a tax agent must complete is ensuring appropriate insurance coverage for their clients.
2) The second point we would like to make is that tax agents should always keep up-to-date with changes in taxation laws and issues relevant to their industry.
3) Finally, it’s very important for all tax agents to ensure that tax returns are lodged correctly.
The tax agent will be liable for any debts that the taxpayer incurs due to negligent advice. In Australia, tax agents must have an Australian Financial Services License (AFSL). This license allows them to provide tax-related services and financial planning tips to their clients.
Depending on whether or not they are a tax agent or tax adviser, they will be required to hold different licenses.