Disclose financial, legal and professional changes

Financial and legal problems

You must disclose to Revenue NSW if you or your business:

• are subject to bankruptcy, administration or liquidation proceedings
• are subject to proceedings by ASIC or ASX
• has adverse findings made against them by ASIC or the ASX
• are subject to disciplinary proceedings by the Law Society NSW, Tax Practitioners Board or the Office of the NSW Legal Services Commissioner
• are subject to an external intervention under Chapter 6 of the Uniform Law.
• are a defendant in legal proceedings
• are convicted of a criminal offence, or
• are subject to any other matters that may impact your suitability to act on behalf of taxpayers as an Approval Holder.

Professional standing

You must ensure that Revenue NSW has current details about your professional qualifications and position in your business.

You must disclose changes to your:

• practising certificate if you are a solicitor or accountant, or
• licence if you are a conveyancer, and
• role in your business caused by an organisational restructure or retirement.

How to disclose

To disclose any of these matters to Revenue NSW, email edr.registration@revenue.nsw.gov.au

In your email include details of the current legal or financial issues, or the issue with your professional standing.

What happens next

Revenue NSW will review the information provided in the disclosure.

We will send an email response to you within 2 business days.

Depending on the nature of your disclosure we may decide to:

• investigate further
• suspend your EDR service
• cancel your EDR approval, and / or
• impose penalties under section 41 of the Taxation Administration Act 1996.

You will be informed of the next steps you need to take.

Privacy collection notice

Revenue NSW collects:

• financial, legal and professional documents, and
• information about:
  • bankruptcy proceedings
  • investigations by other regulators
  • criminal offences, and
  • other matters related to you or your business.

These documents and information may contain your personal information.

Why are we collecting your information?

Revenue NSW collects these documents and information to review your qualifications and conduct fit and proper checks to ensure your ongoing eligibility as an Approval Holder for EDR.

What personal information do we collect?

We may collect the following information from you:

• Your name.
• Contact details.
• Employment details.
• Financial information.
• Criminal records.

How will we share your information?

We will not share your information with anyone else unless you give your consent, or the law requires or allows us to do so.

Are you required by law to give us your information?

You are required under the Taxation Administration Act 1996 (TAA) to provide us with this information.

Under the TAA, penalties may be imposed where a person deliberately fails to comply with requests for information or includes or provides information that is false or misleading.

If found guilty, a person may be liable for a maximum penalty of:

• 500 penalty units ($50,000), and
• 1,000 penalty units ($100,000) and / or 2 years imprisonment for second or subsequent offences.

Your right to access and correct your information

Learn how to update contact and business details for your EDR account.

Read our privacy policy for more details about how we protect the privacy of your personal information.

Related information

• Compliance for EDR Approval Holders
• Suspension and cancellation of EDR approval
• Conditions of EDR approval
• Report duties fraud and scams

Contact us

Call the EDR team on 1300 308 863 or +61 2 7808 6903 if you are overseas. Staff are available Monday to Friday, 8.30am to 5.00pm AEST (excluding public holidays).

You can also email edr.registration@revenue.nsw.gov.au. You will receive a response within 2 business days.