Financial advisers providing tax advice

This section contains information for financial advisers who provide tax advice.

From 1 January 2016 financial advisers must be registered with the TPB to provide tax (financial) advice services for a fee or other reward.

What is a tax (financial) advice service?

A tax (financial) advice service consists of five key elements:

  1. a tax agent service (excluding representations to the Commissioner of Taxation)
  2. provided by an Australian financial services (AFS) licensee or representative of an AFS licensee
  3. provided in the course of advice usually given by an AFS licensee or representative
  4. relates to ascertaining or advising about liabilities, obligations or entitlements that arise, or could arise, under a taxation law
  5. reasonably expected to be relied upon by the client for tax purposes.

For the definition of a tax (financial) advice service, visit the Tax Practitioners Board (TPB) website or refer to section 90-15 of the Tax Agent Services Act 2009.

Registering as a tax (financial) adviser

From 1 January 2016, all AFS licensees and their representatives (as defined in the Corporations Act 2001) will be able to apply to register with the TPB if they meet the transitional or standard eligibility requirements. This applies to all representatives, not just authorised representatives, and includes:

  • employees or directors of the AFS licensee
  • employees or directors of a related body corporate of the AFS licensee
  • other individuals acting on behalf of the AFS licensee.

More information

Register as a tax (financial) adviser

Visit the TPB's registering page.


Frequently asked questions

The TPB have developed some frequently asked questions to help financial advisers who provide tax advice.

What's new

ASIC updates guidance as crowd-sourced funding regime extends to proprietary companies

ASIC has released updated regulatory guides to coincide with the extension of the crowd-sourced funding (CSF) framework to eligible proprietary companies. This starts on 19 October 2018. 18-314MR. 18 October

Guidance on code of ethics compliance schemes for financial advisers

ASIC has released guidance on its proposed approach to approving and overseeing compliance schemes for financial advisers. 18-290MR. 28 September

ASIC review finds unacceptable delays by financial institutions in reporting, addressing and remediating significant breaches

ASIC has identified serious, unacceptable delays in the time taken to identify, report and correct significant breaches of the law among Australia's most important financial institutions.  18-284MR. 25 September.

Financial firms must join AFCA now

ASIC warns all Australian financial services licensees, Australian credit licensees, authorised credit representatives and superannuation trustees that they must join the Australian Financial Complaints Authority (AFCA) now if they have not already done so. 18-275MR. 20 September

More financial services releases

ASIC industry funding

Last updated: 20/10/2014 12:00