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Accountants cannot give legal advice: What that means for them, their clients and the lawyers
Published on 01 May 11 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE
A recent AAT decision highlighted a problem that has existed for many years. Accountants have long-believed that they are entitled to give advice, including legal advice, about the operation of tax laws.
This article considers the extent to which accountants’ “bread and butter” work involves the provision of legal advice.
The article discusses why accountants incorrectly believe that they can give legal advice, the risks for accountants who give legal advice, and how tax practitioners can ameliorate those risks. The article concludes with some suggested curative approaches.
Author profile
Christopher Wallis
Chris Wallis, CTA, Barrister and Accredited Mediator has over 35 years in practice. Chris’ has earned reputation for achieving satisfactory outcomes for clients in long and difficult disputes with revenue authorities by doing the “hard yards” and without having his clients enter the witness box. Day to day Chris’ work involves working with practitioners to fend off the TPB; SMSF members/directors to fend off the Regulator; and family lawyers and accountants in a relationship breakdown to trace assets and identify tax exposures. Chris provides easily read and comprehensive advice in relation to trusts or real property and is a regularly published author. Over 35 years Chris has delivered more than 150 presentations around Australia for the various professional bodies, the Australasian Tax Teachers Association, the Television Education Network, the Tax Bar Association, and the late Gordon Cooper’s Problems in Practice. - Current at 23 July 2024
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