Tax Laws Amendment (2013 Measures No. 3) Act 2013 (120 of 2013)

Schedule 1   Creating a regulatory framework for tax (financial) advice services

Part 1   Main amendments

Tax Agent Services Act 2009

41   After subsection 70-40(3)

Insert:

Disclosures to the Australian Securities and Investments Commission

(3A) Subsection 70-35(1) does not apply if the record or disclosure is to the Australian Securities and Investments Commission for the purpose of the Commission performing any of its functions or exercising any of its powers.

Note: A defendant bears an evidential burden in relation to the matters in subsection (3A): see subsection 13.3(3) of the Criminal Code.