Implementation of the Government's response to the Review of the Tax Practitioners Board

5 days left to have your say
Date
-
Consultation Type
Exposure Draft Legislation

Key Documents

In November 2020 the former Government released its response to the final report of the independent review into the effectiveness of the Tax Practitioners Board (TPB) and Tax Agent Services Act 2009 (TASA).

The Government is seeking stakeholders’ views on the exposure draft legislation and accompanying explanatory material on the following recommendations of the independent review:

  • Recommendation 2.1 – amend the object clause of the TASA to make it more contemporary and better aligned with the TPB’s role and responsibilities.
  • Recommendation 3.1 – enhance the TPB’s financial independence by establishing a Special Account.
  • Recommendation 4.6 – amending the TASA to strengthen the disclosure requirements to require tax practitioners to not employ or use disqualified entities in the provision of tax agent services without approval from the TPB.
  • Recommendation 4.7 – converting the 3-year registration cycle to annual registration to align with the TPB’s administrative annual declaration process.
  • Recommendation 5.1 – amending the TASA to give the relevant Minister the power to supplement the TASA’s Code of Professional Conduct (the Code) to address emerging or existing behaviours and practices.

The proposed amendments to the TASA will enhance community confidence, increase the independence and effectiveness of the TPB, and support high standards in the tax profession whilst streamlining the regulation of tax practitioners.

Responding

You can submit responses to this consultation up until 11 December 2022. Interested parties are invited to comment on this consultation.

While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment.

Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

View our submission guidelines for further information.

How To Respond

Email

taxadministrationconsultation@treasury.gov.au

Post

Address written submissions to:

Tax Administration Unit
Personal and Indirect Tax, Charities and Housing Division
Treasury
Langton Cres
Parkes ACT 2600

Enquiries

Email: taxadministrationconsultation@treasury.gov.au