The Australian Taxation Office (ATO) and the Tax Practitioners Board (TPB) have recently made changes to how client identification is verified. Tax and BAS agents now have a responsibility to confirm the identity of their clients.
Starting in the second half of 2022, new proof of identity (PoI) requirements became mandatory.
Yes. In the case of non-individuals, the requirement for non-individuals is that the associated individuals must prove their ID. We are now obligated to verify the identities of all our clients. Be assured that we do not retain your physical or electronic copies of IDs. Providing ID is for verification purposes only.
You don’t need to take any specific action regarding the implementation of these rules. However, there might be instances where we will request different identity documents from you. From now on, all clients must submit their identity documents when requested.
These measures aim to make the process of identifying our clients more secure and reliable while ensuring compliance with government rules. We encourage you to familiarize yourself with these requirements and understand that they have been put in place to protect your interests. If you have any questions or concerns, please don’t hesitate to reach out to us. We are here to assist you.
RESOURCE: From the Tax Practitioners Board (TPB) – Information for Clients: Proof of Identity Checks for Client Verification.