The Tax Practitioners Board (TPB) says financial advisers are running out of time to register as tax advisers under reform transition arrangements.

They have until June 30, with authorised representatives and dealer groups working to the same deadline.

TPB Chairman Ian Taylor says advisers can register under the transition arrangements or apply for a standard registration, having met the board’s requirements.

“An adviser may decide the transitional registration is the best option because it gives them extra time to satisfy the registration requirements under the standard registration option.

“This includes individuals meeting qualifications and experience requirements, and companies and partnerships meeting the sufficient number requirement.”

The transition option requires an adviser to have sufficient experience – 18 months or more – to provide tax advice services to a competent standard.

If advisers miss the June 30 deadline, they must meet the standard education and experience requirements.