On 5 March 2019 the Government announced an independent review into the effectiveness of the Tax Practitioners Board and the Tax Agent Services Act 2009 to ensure that tax agent services are provided to the public in accordance with appropriate professional and ethical standards.
The Government has released the terms of reference for the review and has appointed Mr Keith James as an independent expert to lead the review.
The review will involve consultation with representatives from the accounting and taxation, consumer advocacy and education sectors, as well as with professional bodies, government regulators and agencies and the public. It provides an opportunity to evaluate current and future suitability and effectiveness of the legislative and governance framework, the regulation of the sector and to identify possible improvements.
Submissions from all interested parties in response to the Discussion Paper are due by 30 August 2019 and can be emailed to TPBreview@treasury.gov.au.
A report with any recommendations will be provided to Government by 31 October 2019. The Government will closely monitor the review and its findings.