Professional Advice is a Partnership
By Tina Zawila
As a finance professional, I respect that many people rely on us and other experts at key moments in life: accountants and tax agents to manage financial matters and tax compliance, financial planners to guide investments and superannuation, and solicitors to handle contracts and major transactions.
Professional expertise can be invaluable, saving time, reducing risk and helping navigate increasingly complex laws and regulations.
However, recent examples serve as a sobering reminder that engaging a professional does not remove the client’s responsibility to understand, review and confirm what they are signing.
In one recent case, the Australian Taxation Office refused to remit interest charges imposed on a taxpayer, despite delays, omissions and errors being made by their former (now deregistered) tax agent. The ATO’s position was clear: while taxpayers are entitled to rely on professional advice, the legal obligation to ensure information lodged is correct and submitted on time, ultimately rests with the taxpayer.
This case is not an argument against professional advice— quite the opposite.
Good advisers provide critical expertise, act as trusted guides and often protect clients from costly mistakes. It’s an important reminder to choose your professional carefully, do your own due diligence, and ensure they have the capacity, skills, qualifications and accreditations with reputable professional affiliations.
Before signing anything, take the time to read documents carefully. Ask questions. Confirm key details and if something does not make sense, pause — even if you feel pressure to proceed. And if your advisor is not responding to your requests for advice or lodging your documents late, seek alternative professional advice immediately.
Professional advice is a partnership. Advisers bring technical knowledge and experience; clients bring context, understanding and final authority. When both sides actively engage, the risk of costly and distressing outcomes is greatly reduced.
If you are looking for a new professional financial advisor and tax agent, contact our qualified team at UHY Haines Norton CQ on 07 49721300. We have almost 50 years of experience, and the backing of professional affiliations and memberships both nationally and internationally.
