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Accounting

Simple solutions tailored to suit your individual needs.

Our approach is based on knowing that every client is different. We adopt a distinctive approach to understand each client. We understand that information is key to being able to make the right business decision at the right time.
We can help by:

  • Providing timely and managed solutions
  • Getting to know what your needs and wants (both business and personal) and establishing solutions to achieve them.
  • Establishing long term relationships with you.
  • Getting to know your business
  • Maintaining high ethical standards
  • Supporting you through every step in achieving their business goals
  • High technical standards and experience with cloud based systems.

We will deliver as our success is dependent on your success.
 

Liability limited by a scheme approved under Professional Standards Legislation.

Important Update: Changes to the Tax Agent Services Act (TASA) Effective 1 July 2025
Significant amendments to the Tax Agent Services Act 2009 (TASA) are now in effect. The changes, introduced by the Tax Practitioners Board (TPB), aim to enhance transparency, accountability, and public trust in the tax profession.

What This Means for You
At Astute Accounting, we are committed to upholding the highest professional standards. Many of the legislative changes align with our existing practices. However, you may notice some adjustments in our processes, including:

  • Request for Additional Documentation: We may ask for documents not previously required or not submitted in prior years.
  • Enhanced Disclosure Requirements: We may ask you to provide comprehensive documentation to verify any deductions claimed, especially for significant or material items.

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    These measures are in place to ensure accuracy and compliance with current requirements, and we appreciate your cooperation.

    Key Changes Under the New Code of Professional Conduct
    The updated Code introduces several new obligations for tax practitioners, effective from 1 July 2025:

  • Mandatory Correction of False or Misleading Statements: Tax agents must correct any false, inaccurate, or misleading statements made to the TPB or ATO, even if it conflicts with client instructions.
  • Disclosure Obligations to Clients: Tax agents must inform clients about matters that could affect their decision to engage the agent, how to access the TPB register, and how to lodge complaints.
  • Promoting and Upholding Ethical Standards: Tax agents must uphold and promote the Code, avoid actions that damage public trust, and report significant breaches to the TPB.
  • Handling Conflicts of Interest with Government: Tax agents are required to identify, disclose, and manage conflicts of interest when working with government agencies.
  • Confidentiality with Government Agencies: Tax agents must not disclose, or misuse information received from government agencies unless legally required or permitted.
  • Record-Keeping Requirements: Tax agents must maintain detailed records of services provided in English (or easily translatable) for at least five years, including all relevant advice and communications.
  • Providing Competent Services: Tax agents must ensure that anyone providing services on their behalf possesses the necessary skills and is properly supervised.
  • Maintaining Quality Management Systems: Tax agents should establish and sustain a quality management system covering governance, monitoring, record-keeping, confidentiality, conflict management, and staff management.

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    We also now have a formal obligation to disengage from clients who are not doing the right thing. If a client is knowingly providing false or misleading information, or refusing to comply with tax laws, we are required to cease acting for them. While this has always aligned with our ethical standards, it is now an explicit requirement under the updated Code of Professional Conduct.
    These obligations are designed to enhance the high professional and ethical standards expected of tax practitioners by the community.

    Our Commitment to You
    At Astute Accounting, we are dedicated to ensuring compliance with these new requirements. We will continue to provide you with accurate, timely, and personalized advice, and we appreciate your understanding and cooperation as we implement these changes.

    You can read more about the changes introduced by the TPB here