Regulation of tax (financial) advisers

Regulations and registration

Tax (financial) adviser

If you are a financial adviser and provide tax advice or advice on tax consequences as part of your advice to clients for a fee or reward, you need to be registered with the Tax Practitioners Board (TPB).

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

  1. A tax agent service (excluding representations to the Commissioner of Taxation)

  2. A service provided by an Australian Financial Services (AFS) licensee or representative of an AFS licensee

  3. A service provided in the course of advice usually given by an AFS licensee or representative

  4. A service that relates to ascertaining or advising about liabilities, obligations or entitlements that arise, or could arise, under a taxation law

  5. A service reasonably expected to be relied upon by the client for tax purposes.

Requirements for registration

To be eligible to register as a tax (financial) adviser, you need to satisfy the following requirements:

  1. be at least 18 years old

  2. be a fit and proper person

  3. maintain, be able to maintain, professional indemnity insurance that meets the TPB requirements

  4. meet the qualifications and relevant experience requirements. These requirements include that you are, or have been, an Australian financial services (AFS) licensee or a representative of an AFS licensee within the 90 days preceding your application.

How to register

To register, you will need to complete an online application and provide relevant supporting documentation.

The current application fee is $560, which must be paid in full before you submit your application.

If your application is successful, you will be registered for at least three years from the date of approval.

Begin registration as a tax (financial) adviser

Company or partnership tax (financial) adviser

All AFS licensees and their representatives who provide tax (financial) advice services for a fee or other reward need to be registered with the TPB.

‘Representative’ includes:
  • An authorised representative of the licensee, which may be:

    • an individual

    • a body corporate (or a corporate authorised representative)

    • a partnership

    • a group of individuals and/or bodies corporate that are the trustees of a trust

  • an employee or director of the licensee

  • an employee or director of a related body corporate of the licensee

  • any other person acting on behalf of the licensee.

There are additional requirements for registration, including that the company or partnership must have a sufficient number of individuals registered as tax agents or tax (financial) advisers to provide tax (financial) advice services to a competent standard, and to carry out supervisory arrangements.

Read the additional requirements for registration as a company or partnership tax (financial) adviser 

Registered tax agents 

If you are a financial adviser and registered tax agent, you do not need to register as a tax (financial) adviser.

Please inform your AFS licensee of your existing registration.

Tax Practitioners Board resources