Proof of identity (POI) requirements for client verification
As required by TPB (PN) 5/2022 of the Tax Agent Services Act 2009 (TASA)
Registered tax practitioners (registered tax agents and BAS agents), like many professionals are working in an environment which requires an increasing reliance on technology, remote work practices, and changing methods to engage with new and existing clients. As such, it is increasingly important that registered tax practitioners manage their practices in a way that minimises the risk of their practice being the target of fraudulent activities against themselves, their business, clients, taxpayers and/or the government. What this means is that we are now required to gather and/or sight identification documents that prove the identity of the individual and/or the non-individual prior to engaging with them as a new client.