on the types of identity verification documents to use, how to deal with situations in which clients do not have standard identity documents and record keeping). The ATO and TPB collaborated on this project and their guidelines are closely aligned (e.g. The TPB flagged that: “If you fail to properly verify a new or ongoing client’s and/or their representative’s identity, you may breach an ongoing registration requirement, the Code of Professional Conduct (in particular, Code items 1, 7 and 9) or the civil penalty provisions in the Tax Agent Services Act 2009.” ATO and TPB guidelines: a comparison However, both agencies recommend that tax practitioners start adopting these guidelines in their practices now. The new proof of identity (PoI) requirements will become mandatory in the latter half of 2022 (the TPB and ATO will confirm the start date in due course). 3 March: Strengthening Client Verification Practicesįind out how the new client verification requirements will affect on-boarding procedures in our complimentary Sharing Knowledge session Read more When do these new requirements apply?
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