The government has released exposure draft legislation that amends the Tax Agent Services Act 2009 as part of the government’s response to the PwC matter, announced on 6 August 2023.
These amendments relate to the priority area identified for action in the government’s PwC response: Increasing the powers of our regulators.
The draft legislation will:
- enhance Tax Practitioners Board (TPB) investigation processes by extending the time period the TPB has to conduct investigations into suspected misconduct from 6 months to 24 months
- improve the TPB Register by lifting its functionality and utility, and increase the transparency of tax practitioner misconduct.
The government is seeking stakeholder feedback on the exposure draft legislation, regulations, and explanatory materials.
View the published submissions received through this process.