Financial planners and advisers who are not yet registered with the Tax Practitioners Board (TPB) that provide financial tax advice are running out of time and will not be able to take advantage of the transitional registration after the end of the financial year.
TPB chair, Ian Taylor, said all Australian financial services licensees, authorised representatives, corporate authorised representatives, and defined employee representatives could choose the option of a transitional registration, which would then allow extra time to satisfy requirements.
"To register under the transitional option you must have sufficient experience to be able to provide tax (financial) advice services to a competent standard — which is generally the equivalent of 18 months or longer of full-time experience," he said.
"If you wish to take advantage of the transitional registration option, it is only available until 30 June this year. After this time all registrations and renewals will need to meet the standard registration requirements."