90‑15 Meaning of tax (financial) advice 90‑15 Meaning of tax (financial) advice service

#### 90‑15 Meaning of tax (financial) advice service (1) A tax (financial) advice service is a \*tax agent service (other than within the meaning of subparagraph (1)(a)(iii) of the definition of that expression) provided by a \*financial services licensee or a \*representative of a financial services licensee in the course of giving advice of a kind usually given by a financial services licensee or a representative of a financial services licensee to the extent that: (a) the service relates to: (i) ascertaining liabilities, obligations or entitlements of an entity that arise, or could arise, under a \*taxation law; or (ii) advising an entity about liabilities, obligations or entitlements of the entity or another entity that arise, or could arise, under a taxation law; and (b) the service is provided in circumstances where the entity can reasonably be expected to rely on the service for either or both of the following purposes: (i) to satisfy liabilities or obligations that arise, or could arise, under a taxation law; (ii) to claim entitlements that arise, or could arise, under a taxation law. (2) The Board may, by legislative instrument, specify that another service is a tax (financial) advice service. (3) However, a service is not a tax (financial) advice service if: (a) it consists of preparing a return or a statement in the nature of a return; or (b) it is specified in the regulations for the purposes of this paragraph.