Additional education and training requirements for relevant providers providing tax (financial) advice services

From 1 January 2022, if you are a relevant provider who provides, or intends to provide, tax (financial) advice services to retail clients for a fee, you must be a 'qualified tax relevant provider'.

For more information on who can provide tax (financial) advice services and the requirements for ‘qualified tax relevant providers’ see:

Additional information, including information specific to non-relevant providers, can also be found on the Tax Practitioners Board's website.

Additional education and training requirements for 'qualified tax relevant providers’

Relevant providers are required to meet the qualifications standard under section 921B(2) of the Corporations Act 2001.

Additional education and training requirements apply to qualified tax relevant providers.

Under Division 3 of Part 3 of the Corporations (Relevant Providers—Education and Training Standards) Determination 2021 (Relevant Providers Determination), relevant providers who provide, or intend to provide, tax (financial) advice services must complete specified courses in commercial law and taxation law before providing tax (financial) advice services, unless the individual:

  • is a relevant provider who is registered as a tax agent with the Tax Practitioners Board (including a provisional relevant provider), or
  • is, or will be, a relevant provider who was registered as an individual tax (financial) adviser with the Tax Practitioners Board immediately before 1 January 2022, or
  • is, or will, be a relevant provider who applied to be registered as an individual tax (financial) adviser with the Tax Practitioners Board on or before 31 December 2021, and had their application subsequently approved, or
  • has completed the commercial law and taxation law courses approved by the Tax Practitioners Board before 1 January 2022 (including a ‘provisional relevant provider’).

Relevant providers who have previously completed commercial law and/or taxation law courses approved by the Tax Practitioners Board under paragraphs 301(b), 302(b) and 303(a) of Schedule 2 to the Tax Agent Services Regulations 2009 (as in force on 31 December 2021) are not required to complete the courses again and can provide tax (financial) advice services from 1 January 2022. Approved courses are listed below.

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Existing providers who are, or will be, relevant providers have until 31 December 2025 (if they have passed the financial adviser exam) to complete the required commercial law and taxation law courses.

The specific requirements that must be satisfied with respect to each of the specified courses are listed in sections 3-65 and 3-70 of Division 3 of Part 3 of the Relevant Providers Determination. Relevant providers and/or their Australian financial services licensees should review and assess relevant course outline(s) to determine whether they meet the requirements of the Relevant Providers Determination.

For more information, see Information Sheet 268 Relevant providers who provide tax (financial) advice services (INFO 268).

Additional continuing professional development (CPD) requirements for 'qualified tax relevant providers’

All relevant providers (except provisional relevant providers) must comply with the CPD requirements set by the Minister.

Relevant providers who provide tax (financial) advice services are also required to comply with the CPD requirements set out in Division 5 of Part 3 of the Relevant Providers Determination. These are tax specific CPD requirements that are in addition to the CPD requirements that qualified tax relevant providers (except provisional relevant providers) are required to meet. The CPD requirements set out in the Relevant Providers Determination replace the CPD requirements that applied to tax (financial) advisers under the Tax Agent Services Act 2009.

Last updated: 02/04/2025 08:27