Oceanview Accountants are committed to upholding our professional and regulatory obligations.

Under s45 of the Tax Agent Services (Code of Professional Conduct) Determination 2024, registered tax practitioners are required to advise all current and prospective clients of the following matters.

Public register of tax practitioners

The Tax Practitioners Board (TPB) maintains a searchable register of tax practitioners, being registered tax agents and BAS agents. The register also includes details of any past breaches of the Code of Professional Conduct and sanctions imposed that are on the public record. The TPB website also includes guidance on how to use the register.

Making a Complaint

Our Complaints Policy provides information on how clients can make a complaint about our services. Where a complaint relates to the provision of tax agent services clients may also choose to notify the TPB on the TPB’s.

As tax practitioners, we must comply with the Tax Agent Services Act 2009 (TASA), including the Code of Professional Conduct, along with other legislative and professional standard obligations.

Our clients also have obligations to comply with taxation laws. These include, but are not limited to, making all relevant information available on a timely basis, being truthful with information provided, advising of any relevant changes, keeping complete records and being co-operative with requests and meeting due dates.

Further information about tax practitioner and client obligations is available on the TPB website in a fact sheet: ‘Information for Clients’.

Events affecting Oceanview tax practitioners

Tax practitioners are required to disclose and provide details of any of the events prescribed under s45(1)(d) of the Tax Agent Services (Code of Professional Conduct) Determination 2024 that have occurred involving the practitioner since 1 July 2022. As at 1 January 2025, we are not aware of any such matters relevant to Oceanview Accountants.

If a prescribed event occurs after 1 January 2025, we are required to disclose the matter within 30 days of the event.

Tax practitioners are required to disclose any conditions limiting the scope of tax agent services that can be provided. You can search the TPB register for details of any conditions imposed on an entity’s (including individuals) tax practitioner registration.

Professional Standards (Limitation of Liability Scheme)

CAANZ membership and the CAANZ Professional Standards (Limitation of Liability) Scheme

Oceanview Accountants is a member of Chartered Accountants Australia and New Zealand (CAANZ). As a member of CAANZ, Oceanview Accountants participates in an Australian professional standards scheme that limits Oceanview Accountants liability for damages arising from occupational liability claims. The scheme commenced on 8 October 2019 and identifies participants as being responsible professionals who have adequate resources to meet claims made against them to a specified limit.

A professional standards scheme is a legal instrument that obliges associations to monitor, enforce and improve the professional standards of their members. This is designed to help protect the people, or consumers, who use their members’ services. Other professions such as lawyers and surveyors have similar schemes. More information about professional standards schemes can be found here.

The CAANZ Limited Liability Scheme operates by capping the amount of damages that can be awarded against a CAANZ member for professional negligence. CAANZ members are obligated to follow certain rules and provisions, including upholding professional standards, and having minimum professional indemnity insurance as required under the scheme.

CAANZ membership and the Limited Liability Scheme

Being a member of CAANZ and participating in the CAANZ Limited Liability Scheme provides a number of benefits for our clients, including:

• Financial protection in the event of professional negligence
• Reduced risk of litigation
• Oceanview’s commitment to Professional Standards

Oceanview Accountants is committed to providing our clients with the highest possible standards of professional service. We are also committed to protecting our clients from the financial consequences of professional negligence. That is why we are a signatory to the CAANZ Limited Liability Scheme and have taken out professional indemnity insurance in excess of the Scheme’s minimum $2 million cap.

As a member of CAANZ, Oceanview Accountant’s are committed to:

• achieving and maintaining an appropriate level and currency of professional qualifications and experience
• adhering to a prescribed code of ethics
• adopting CAANZ complaints and disciplinary procedures, and
• maintaining appropriate levels of professional indemnity insurance.

As a member of the CAANZ Limited Liability Scheme, Oceanview Accountants are required to state our limited liability on all documents that promote or advertise our firm or our services. This includes official correspondence given to our clients or prospective clients.

For more information

If you have any questions about the CAANZ Limited Liability Scheme, please do not hesitate to contact us. We would be happy to discuss the Scheme with you in more detail.