Tax Agent Services Act 2009
A tax (financial) advice service is a *tax agent service (other than within the meaning of subparagraph (1)(a)(iii) of the definition of that expression) provided by a *financial services licensee or a *representative of a financial services licensee in the course of giving advice of a kind usually given by a financial services licensee or a representative of a financial services licensee to the extent that:
(a) the service relates to:
(i) ascertaining liabilities, obligations or entitlements of an entity that arise, or could arise, under a *taxation law; or
(ii) advising an entity about liabilities, obligations or entitlements of the entity or another entity that arise, or could arise, under a taxation law; and
(b) the service is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes:
(i) to satisfy liabilities or obligations that arise, or could arise, under a taxation law;
(ii) to claim entitlements that arise, or could arise, under a taxation law.
90-15(2)
The Board may, by legislative instrument, specify that another service is a tax (financial) advice service .
90-15(3)
However, a service is not a tax (financial) advice service if:
(a) it consists of preparing a return or a statement in the nature of a return; or
(b) it is specified in the regulations for the purposes of this paragraph.
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