TPB Confirms Assisting With R&D Matters Constitutes a Tax Agent Service

August 5th, 2022

The Tax Practitioners Board (TPB) recently published

The document seeks to provide information regarding the TPB’s position on the application of subsection 90-5 of the Tax Agent Services Act 2009 (TASA), containing the definition of a tax agent service.

Advisors that provide tax agent services for a fee or other reward must be registered with the TPB. Being registered with the TPB presents requirements around qualification and experience in tax matters.

Within Exposure Draft TPB Information Sheet TPB(I) D48/2022, a table is presented that outlines examples of what is, and is not a Tax Agent Service. The following is mentioned  in respect of R&D Tax Advisory:

  • Assisting clients with tax concessions for expenditure incurred on research and development activities where the service involves the application of taxation laws – IS a tax agent service

Companies and advisors who are working in the space should be mindful of these requirements.

There are significant civil penalties for anyone providing tax agent services for a fee or reward or advertising tax agent services, while unregistered.

Get in touch with our office if you would like to speak to someone about a potential  R&D claim, or check out our website for more information.

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