Taxation Law
Added on 2022-12-29
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Running head: TAXATION LAW
Taxation Law
Name of the Student
Name of the University
Authors Note
Course ID
Taxation Law
Name of the Student
Name of the University
Authors Note
Course ID
TAXATION LAW1
Table of Contents
Answer to question 1:.................................................................................................................2
Answer to question 2:.................................................................................................................4
Answer to question 3:.................................................................................................................5
References:.................................................................................................................................7
Table of Contents
Answer to question 1:.................................................................................................................2
Answer to question 2:.................................................................................................................4
Answer to question 3:.................................................................................................................5
References:.................................................................................................................................7
TAXATION LAW2
Answer to question 1:
A: Conflict of Interest: Conflict of interest happens when an individual has own interest or
they have the duty towards another individual which is in conflict with the work that is
outstanding to client in their capacity as the registered tax agent (Woellner et al., 2016).
B: Responsibility of Tax Agent: According to the TASA 2009 and TASR the below stated
are the responsibilities of the tax agent;
a. Honesty and Integrity
b. Acting independently and lawfully
c. Maintaining the confidentiality of the client information
d. Providing advice regarding their client’s rights and responsibilities
e. Maintaining the professional indemnity insurance that meets the requirement of the
board.
f. Imposing sanction or penalty for complying with the professional code of conduct.
C: Government tax policy documents: Framing of tax policy is somewhat different from
the monetary policy. The succeeding government have introduced wide variety of innovative
institutions and practices that looks forward to improve the overall policy of tax in Australia.
This comprises of greater participation in private sector and widespread consultations
together with accounting mechanism (Barkoczy, 2016). The government of Australia cabinet
system includes senior members that act as the important element in decision making for the
government. The formation of taxation policy is very challenged space, reformation, research
and options relating to policy that are formed by scale of sources together with the tax
representative and media. On the other hand, the treasurer is backed by the Treasury portfolio
ministers. The tax policy proposal is mainly attracted by the added requirements along with
those which is suggested by the treasurer.
Answer to question 1:
A: Conflict of Interest: Conflict of interest happens when an individual has own interest or
they have the duty towards another individual which is in conflict with the work that is
outstanding to client in their capacity as the registered tax agent (Woellner et al., 2016).
B: Responsibility of Tax Agent: According to the TASA 2009 and TASR the below stated
are the responsibilities of the tax agent;
a. Honesty and Integrity
b. Acting independently and lawfully
c. Maintaining the confidentiality of the client information
d. Providing advice regarding their client’s rights and responsibilities
e. Maintaining the professional indemnity insurance that meets the requirement of the
board.
f. Imposing sanction or penalty for complying with the professional code of conduct.
C: Government tax policy documents: Framing of tax policy is somewhat different from
the monetary policy. The succeeding government have introduced wide variety of innovative
institutions and practices that looks forward to improve the overall policy of tax in Australia.
This comprises of greater participation in private sector and widespread consultations
together with accounting mechanism (Barkoczy, 2016). The government of Australia cabinet
system includes senior members that act as the important element in decision making for the
government. The formation of taxation policy is very challenged space, reformation, research
and options relating to policy that are formed by scale of sources together with the tax
representative and media. On the other hand, the treasurer is backed by the Treasury portfolio
ministers. The tax policy proposal is mainly attracted by the added requirements along with
those which is suggested by the treasurer.
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