The Government response to the Review of the Tax Practitioners Board was released on 27 November 2020.
In response to the 28 recommendations of the final report of the Tax Practitioners Board Review, the Government has announced that it supports 20 of the Review recommendations in full, in-part or in-principle. The final report was informed by multiple rounds of consultation with industry and other interested stakeholders. The Review panel received more than 90 submissions and met with multiple stakeholders throughout the course of the Review.
Some of the recommendations will require additional consultation. This will allow the Government to further develop options, ensuring the best outcome for tax professionals and taxpayers who rely on their services.