From 1 July 2025, the Tax Practitioners Board (TPB) is rolling out some stricter record-keeping obligations for registered tax agents, BAS agents, and tax (financial) advisers.
For accountants and bookkeepers using Payroller, this is an important update. These changes affect the way you keep, store and provide access to client records โ and failure to comply could have serious consequences for your registration and practice.
Hereโs what you need to know, and how Payroller helps you stay compliant.
What’s changing for tax practitioners from 1 July 2025?
From 1 July 2025, a fresh set of rules will apply to firms with 100 or less employees, as outlined in the Tax Agent Services (Code of Professional Conduct) Determination 2024. According to the TPB’s information sheet, TPB(I) 47/2024, these new requirements are designed to strengthen the integrity of the tax profession. It’s all about making sure client records are complete, accurate, and kept for the long haul.
Under the updated rules, registered practitioners must:
- Keep proper client records that show the nature and scope of the services you provided. Think of it as a clear trail of the work you’ve done.
- Hold onto these records for a minimum of seven years, not just five. This is a crucial update.
- Use verified cybersecurity practices to protect all that confidential and private information. The TPB is serious about data protection, and you should be too.
- Have the records and statements to support your advice to demonstrate reasonable care. Itโs about being able to prove you did your homework.
Basically, you need a solid system in place to capture client data, store it securely, and produce it on demand. Paper files and scattered spreadsheets wonโt cut it anymore.
Why do these record-keeping obligations really matter?
In short, accourate, well-kept records:
- Support ATO and TPB investigations.
- Demonstrate that youโre taking reasonable care with client information.
- Protect you against allegations of misconduct.
- Give your clients peace of mind that their sensitive financial data is being managed responsibly.
The TPB is tightening things up to build more public trust in the tax profession, and I am here for it. As a practitioner, you have a massive responsibility, and having accurate, well-kept records does more than just tick a box.
First, it protects you. Imagine an ATO or TPB investigation. You don’t want to be scrambling to find a specific document from five years ago. Having a solid system protects you from any allegations of misconduct and proves you’re taking reasonable care.
Second, it protects your clients. They trust you with their most sensitive financial data. When you can show them you have a robust system in place, it gives them peace of mind. Itโs an easy way to build your reputation as a reliable and trustworthy partner.
For practitioners, staying on top of this isnโt just about compliance โ itโs also about building credibility and maintaining your registration.
How Payroller supports compliance
I get it, new rules can feel like another thing you have to manage. Thatโs why Payroller is built to take away the headache of managing all these new obligations. We believe that technology should work for you, not the other way around. We want you to get back to what you do best: helping your clients.
Hereโs how:
1. Secure cloud storage
All payroll and employee records are stored securely in the cloud, with bank-level encryption. That means no lost files, and peace of mind knowing client data is protected.
2. ATO-compliant reporting
Every pay run is reported to the ATO through Single Touch Payroll (STP). Records are automatically logged and time-stamped, creating an audit trail that aligns with TPB standards.
3. Easy access when you need it
Need to produce records for the TPB or ATO? Payroller lets you access and export client data instantly โ no digging through paper archives.
4. 7-year retention made simple
Payroller automatically retains payroll records in line with the 7-year requirement, so you can demonstrate compliance without extra admin.
5. Timesheets and rosters included
With integrated rostering and timesheets, you can ensure all client employment records are consistent, accurate and captured in one place.
Record-keeping best practices for tax agents
If youโre getting ready for 1 July 2025, here’s what I recommend:
- Take a look at your current record-keeping process. Where are the gaps? What could be improved?
- Make sure your whole team is educated on the new obligations. Everyone needs to understand why this is so important.
- Move your client payroll and employee records into a secure payroll software like Payroller. This is a game-changer.
- Get into the habit of regularly checking reports to make sure all the information is accurate and up-to-date.
Payroller makes compliance simple
With TPBโs new record-keeping obligations coming into effect, now is the time to review your systems. Payroller gives accountants and bookkeepers a secure, compliant way to manage payroll and employee records โ so you can focus on your clients, not the admin.
Find out how Payroller supports agents in our new agents hub here.