50‑17 Providing tax (financial) advice s50‑17 Providing tax (financial) advice services if not registered or qualified

50‑17 Providing tax (financial) advice services if not registered or qualified

You contravene this section if: (a) either: (i) you provide a service that you know, or ought reasonably to know, is a *tax (financial) advice service; or (ii) a service that you know, or ought reasonably to know, is a tax (financial) advice service is provided on your behalf by another person; and (b) the tax (financial) advice service is not a *BAS service; and (c) either: (i) you charge or receive a fee or other reward for providing the tax (financial) advice service; or (ii) the other person charges or receives a fee or other reward for providing the tax (financial) advice service on your behalf; and (d) you are not a *registered tax agent or a *qualified tax relevant provider; and (e) in the case of the tax (financial) advice service provided on your behalf by another person—that other person is not a registered tax agent or a qualified tax relevant provider; and (f) in the case of you providing the tax (financial) advice service as a legal service—you are prohibited, under a *State law or *Territory law that regulates legal practice and the provision of legal services, from providing that tax (financial) advice service.

Civil penalty:

(a) for an individual—250 penalty units; and
(b) for a body corporate—1,250 penalty units.

Note: Subdivision 50‑C of this Act and Subdivision 298‑B of Schedule 1 to the Taxation Administration Act 1953 determine the procedure for obtaining a civil penalty order against you.