- 252 Fitzgerald Street, Perth WA 6000
TFP Tax Accountants Pty Ltd is a registered tax agent and operates in accordance with the Code of Professional Conduct as outlined in the Tax Agent Services Act 2009 and the Code of Professional Conduct Determination 2024.
We are regulated by the Tax Practitioners Board (TPB), which oversees the professional and ethical standards of registered tax practitioners. In addition, we comply with all relevant requirements set by the Australian Taxation Office (ATO), including those related to the use of Online Services for Agents and associated software platforms.
Tax Practitioner Board (TPB) – Registration Details
TFP Tax Accountants Complaint Process:
If you have a grievance about our Tax Agent services, you will need to contact us by email on admin@tfptax.com.au to ensure we are able to respond to any misunderstanding or performance issues.
We will provide you with an email acknowledgement of receipt of your complaint and our understanding of the circumstances. The email will inform you that we will attempt to resolve your complaint within 14 days of our initial response and will outline the dispute resolution process. If you are unhappy with the outcome that we propose to you, you can then make a complaint to the Tax Practitioners Board (TPB) here: https://www.tpb.gov.au/complaints|
TFP Tax Accountants’ Obligation as a Tax Agent
As your registered tax agent, we are bound by legal obligations when providing tax services to you. Under the law, we must not:
If it becomes evident—based on new information—that a previously submitted statement may be false or misleading in a material way, we are required to assess the situation and discuss this with you.
Should we have reasonable grounds to believe the false or misleading nature of a statement was due to:
We are obligated to:
If you choose not to correct the statement, we may be compelled to withdraw from providing any further services to you.
Your Obligation as a Client:
The tax laws specifically require taxpayers to keep records that properly explain the transactions they have entered into.
Individuals
Individuals claiming deductions for work-related expenses are subject to the Substantiation rules in the tax laws. This requires taxpayers to keep receipts, invoices etc, of the expenses they incur. Where the expenses relate to a taxpayer travelling interstate or overseas, a travel diary may also need to be kept. Where the expense relates to a motor vehicle, a record of the journeys taken, such as a log book, may need to be kept.
A failure to keep the appropriate records can lead to the ATO denying a particular deduction which may involve the imposition of penalties and interest. Substantiation records must be retained for 5 years after the tax return for the relevant year was lodged.
Businesses
The tax laws specifically require a taxpayer who carries on business to keep records that record and explain all the transactions they have entered into. This includes all the documents that explain how the income and expenditure of the taxpayer were determined.
Where the tax laws allow or require a taxpayer to make a choice, election, estimate or calculation documents containing particulars of these matters must be kept.
All these records must be retained for a period of 5 years after your tax return is lodged. There are penalties for taxpayers who fail to do so.
Capital gains tax – where an asset has been sold during the year, you must retain the details of the asset’s acquisition including its cost base, and any additions to the asset for a period of 5 years after lodgement of the income tax return for the year of sale.
Obligation to provide complete and accurate records
In order for our firm to be able to lodge returns on your behalf, it is your responsibility to provide us with complete and accurate records. Further, in order to lodge your return on time we will require you to provide us the relevant information as and when requested.
Where you are unable to provide us with complete and accurate records, we may be unable to prepare and lodge your return. Under the Tax Agents Services Act 2009, tax agents are subject to a Professional Code of Conduct which prevents them from acting for a client where insufficient records or information exist to be able to determine the amount of the client’s income or deductions.
TFP Tax Accountants outstanding matters with TPB –
