The National Institute of Accountants (NIA) supports the extension of legal professional privilege to tax and accounting professionals for tax advice.

"Lawyers have had this protection for many years and we believe it is time that non-lawyer tax advisers, who are also registered tax agents and members of professional accounting bodies such as the NIA, receive the same professional privilege," says NIA's chief executive officer, Andrew Conway.

"The complexity of Australia's tax laws and the penalties for getting it wrong necessitate the need for taxpayers to have access to tax advice which is subject to professional privilege, regardless of whether it is from an accountant or a lawyer."

"Members of professional accounting bodies and registered tax practitioners already have in place high ethical standards and extending the professional privilege will bring professional accountants into line with the legal profession.

"While the ATO has provided accountants with a concession, we strongly believe that it needs to be codified into legislation. This will encourage taxpayers to inform their advisors of all the facts without fear that the advice could be made non-confidential as part of the ATO's information-gathering powers.

"Consumers should be afforded the same level of protection, irrespective of who they get their advice from."

About the National Institute of Accountants (as of May 2 2011, Institute of Public Accountants): First formed in 1923, Australia's National Institute Accountants has been driving professionalism, influencing policy and promoting the interests of its members on a local and global stage for nearly 90 years.

The NIA has grown to be one of the three recognised professional bodies for accountants in Australia. It now represents the interests of over 22,000 members and students. It has members in over 51 countries around the world and is working to promote the exchange of knowledge and best practice to build relationships across borders.

The NIA is a specialist in the small-medium enterprises and small-medium practices space with a large number of its members working in these areas.