The Australian Taxation Office and Tax Practitioners Board (TPB) are placing an increasing emphasis on the importance of Tax Agents and BAS Agents verifying the identity of their clients. This has stemmed not only from the increasing incidence of identity theft and fraud, but also from the heightened attention being given across many industries to anti-money laundering and counter-terrorism.
The TPB requires that all registered tax practitioners take appropriate Proof of Identity steps prior to providing tax agent services and BAS services, and on an ongoing basis as appropriate. The minimum verification requirements depend on the nature of the engagement.
As Registered BAS Agents, DynamicFM must now verify all new clients and their representatives.
Such evidence can be in the form of:
For an individual seeking to engage DynamicFM on behalf of a non-individual, (e.g. Company Director engaging DynamicFM to act on behalf of the company) the same verification requirements apply to the individual.
Furthermore, a legal document must be sighted which demonstrates the authority of the individual representative to engage DynamicFM on behalf of the non-individual client.