You are a tax agent and are faced with the following conflicts of interest.

Advise how you would manage each of these conflicts - avoid the conflict, control the conflict or disclosethe conflict.

Refer to the following link: https://www.tpb.gov.au/code-professional-conduct-tax-agents During the initial interview to prepare Bob's tax return, you recommend a broker to help with the purchaseof Bob's new investment property. You receive a commission from the broker for each referral made.

Sid and Mary are about to retire and mention this to you while you are preparing their tax returns. You handthem a card recommending a friend of yours who is a financial planner that specialises in retirement andsuperannuation. Your friend sends you a $50 gift card for every person that takes up his services.

Isabella has come to you asking for you to please look at the financials and provide confidential advice inrelation to a local cafe business she is looking to purchase, Coffee Delight. Coffee Delight is owned by yourdaughter and you are a silent partner in the business.

Answer rating: 100% (QA)

To manage conflicts of interest as a tax agent in the scenarios presented Initial Int... View the full answer