TASA Determination 2025 – Resource Centre
UPDATE - 31st July 2024
The Assistant Treasurer has confirmed the Government would give accounting firms with less than 100 employees until 1 July 2025 to abide by the new rules as long as they take genuine steps toward compliance.
Great work by all Accountants in writing to their Federal representatives and the Accounting Bodies—the combined pressure from all brought about this change.
We still need TPB clarification on several items, but now there is time for everyone to get this sorted out.
Download the Resources
Here are the resources to help you comply.
- Slide deck from 'The Government Gives You 16 Days to Get This Insane Amount of Work Done' webinar
- TASA Determination 2024 Disclosures for Engagement Documents and Website
- Quality Management System - TEMPLATE by ChangeGPS
- Risk Management Framework - Template
- Slide deck from 'Quality Management' webinar
New 2024 TASA Requirements
At the beginning of July, the government's new Tax Agent Services (Code of Professional Conduct) Determination 2024 was announced.
This regulation treated all Accounting firms the same, no matter their size. There was the risk that if you didn't have these things in place by 1 August 2024, you may have had to self-report yourself as a breach to the TPB.
Just before the deadline, the Assistant Treasurer confirmed the Government would give accounting firms with less than 100 employees until 1 July 2025 to abide by the new rules as long as they take genuine steps toward compliance.
While you've got an extension, you'll still need to comply with these rules.
- You must establish and maintain a system of quality management.
- Retain all your interviews, files, opinions, assumptions, workpapers, logic, and decision-making advice for 5 years. This is not the same as the current 7-year client record-keeping rules. Now, the rules apply to YOU.
- Ensure Competency for all services you offer and have objective evidence you are competent.
- You must advise all current and prospective clients of any matter that could significantly influence the decision of a client to engage you or to continue to engage you to provide a tax agent service. This potentially includes any health issues, partnership disputes or staff shortages you have.
Get a Thorough Understanding With Our On-Demand Web Events
Watch Now
The Government Gives You 16 Days to Get This Insane Amount of Work Done!
Join ChangeGPS Founder Timothy Munro, General Manager David Boyar and Former Tax Institute President and Tax Lawyer Arthur Athanasiou to learn what you have to get done before 1 August 2024 to comply with the law.
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Your Quality Control System to Meet New Legislation
Join the webinar with ChangeGPS Founder Timothy Munro and General Manager David Boyar for a deep dive into the System of Quality Management to understand what you need to do.
The government's new Tax Agent Services (Code of Professional Conduct) Determination 2024 includes a requirement that ALL firms, no matter their size, must have quality control systems.
This requirement is unbelievably onerous for small Practices, but ChangeGPS has your back—it is providing you with one for free.
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System of Quality Management Workshop
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State of the Union
Core by ChangeGPS has standard agendas, actions, and next steps to give you the tools to document all decision-making advice easily.
Take an Interactive Walkthrough.
These webinars are brought to you by ChangeGPS and our friends, who care about how you run your practice.
Your Hosts
Timothy Munro
Founder, ChangeGPS
Arthur Athanasiou
Partner at Thomson Geer Adjunct Professor La Trobe University Law School
