Advisers urged to update TPB registrations

Around one in five tax financial advisers may not be aware that their Tax Practitioners Board (TPB) registration is about to expire on 31 October, and that they will not be able to legally charge for the tax advice they provide.

TPB chair, Ian Taylor said that of the 1,100 renewal reminder emails sent to tax financial advisers whose registrations expired on 31 October, 18 per cent were undeliverable because the email address was invalid.

“These tax (financial) advisers registered under the notification option back in 2015, which meant they only needed to provide basic details at the time,” Taylor said.

“If they changed jobs or email addresses and did not update their details or mobile number with the TPB, their registration is in jeopardy because they haven’t received our renewal reminders.”

The TPB has urged all tax financial advisers to ensure their email addresses and mobile numbers were up to date, stating there were a further 13,700 registrations due to expire on 31 January.

It has also urged licensees to remind authorised representatives to update their details.

“It’s a simple thing but it could just save your registration and business,” Taylor said.

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I am one of the advisers who need to renew in January 2018. Submitted my renewal to TPB over a month ago. Followed up Monday. No response, no update. The TPB is just another Incompetent government bureaucracy that adds absolutely no value to my business. And for the privilege, my business is slugged with another $1,000 annual expense that I need to pass on to clients. Well done!

Can anyone explain the actual benefit of being a member of the TPB? If this were a fee for service arrangement ASIC should be banning them for providing nothing at all!

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