Using unregistered tax agent is a big risk, as they:

• May not have a qualification or experinece required of a registered agent

• May not have appropriate professional indemnity insurance cover

• As a tax payer, you may not have a protection under safe harbour provision, if they are negligent .

Three legally recognised accounting bodies in Australia are:

• The institute of public accountants (IPA)

• The CPA Australia (CPA)

• The institute of chartered accountants of Australia (ICAA)