Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

Schedule 3   Government response to the Review of the Tax Practitioners Board

Part 5   The Code of Professional Conduct

Tax Agent Services Act 2009

25   Subsection 30-35(4)

Repeal the subsection, substitute:

When notice must be given

(4) You must give the notice within 30 days of the day on which:

(a) you become, or ought to have become, aware that the event occurred (unless paragraph (1)(ba), (2)(ba) or (3)(ba) applies); or

(b) if paragraph (1)(ba), (2)(ba) or (3)(ba) applies - you first have, or ought to have, reasonable grounds to believe that you have breached the *Code of Professional Conduct, and that the breach is a *significant breach of the Code.

Note: A breach of this subsection is a breach of section 8C of the Taxation Administration Act 1953 and of subsection 30-10(2) of this Act.