You will require this registration if you intend to provide tax (financial) advice services for a fee or reward.
You are providing a tax (financial) advice service if you advise clients about the tax implications of any financial advice you provide.
A tax (financial) advice service consists of five key elements:
- a tax agent service (excluding representations to the Commissioner of Taxation)
- provided by Australian financial services (AFS) licensee or representative (including individuals and corporations) of an AFS licensee
- provided in the course of advice usually given by an AFS licensee or representative
- relates to ascertaining or advising about liabilities, obligations or entitlements that arise, or could arise, under a taxation law
- reasonably expected to be relied upon by the client for tax purposes.