The Tax Practitioners Board (TPB) has recognised the Certified Financial Planning (CFP) program as an approved course in Australian tax law.

CFP advisers who have completed units 1-5 are deemed to have completed the

Australian tax law subject, and then need only complete an additional course in commercial law to re-register with the TPB.

The Financial Planning Association (FPA) was recognised as a tax agent association in 2012.

It means members who are tax advisers with six of the past eight years’ experience can re-register with the TPB without requiring additional study.

FPA CEO Dante De Gori says the CFP announcement is a significant win for the membership.

“At the FPA we believe high-quality education is an important part of raising financial planning standards and building consumer confidence in our profession,” he said.

“For this reason, we have worked with the TPB to get the FPA recognised as an approved course provider.”