Newsletter from the Tax Practitioners Board
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Issue 46 | September 2020 - Tax (financial) adviser edition
TPB News

COVID-19 concessions extended 

To support you in meeting your registration and renewal requirements during the pandemic, we have extended some of our COVID-19 concessions including the:

  • continued professional education (CPE) private reading and activities to 31 December 2020
  • renewal concession to 30 June 2021
  • relevant experience concession to 30 June 2021.
Learn more.

Our corporate plan is here!

Our corporate plan for 2020–21 is now available. Learn about our purpose, vision and values for the coming year. The way we achieve our purpose includes supporting honest tax practitioners through registration services, complaint resolution, investigations of alleged misconduct and, where appropriate, sanctions. The plan also outlines our expectation in completing 1,000 investigations as well as our increased focus on unregistered providers. This increased focus will assist in supporting community confidence in the integrity of the tax system.

Learn more.

Maintaining your registration

Although our COVID-19 concession exempts you from lodging your annual declaration if it’s due on or before 31 December 2020, you are still required to meet the ongoing obligations to maintain your tax (financial) adviser registration. You still need to:
  • maintain professional indemnity insurance
  • meet CPE requirements
  • satisfy fit and proper requirements
  • comply with the Code of Professional Conduct (Code), including maintaining your personal tax obligations.
Learn more

MOUs with recognised professional association

We’ve started signing a series of Memorandums of Understanding (MOUs) with recognised professional associations. The MOUs show our joint commitment to work collaboratively with recognised professional associations to promote the integrity of the tax profession. They set out a clear and practical framework for both organisations to mutually engage and proactively share information (that can be legally shared) on matters of mutual interest.

Learn more.
Practice management tips

Upcoming webinars - 30 September

Join us on Wednesday 30 September for two free webinars. At 1:00pm, find out what your responsibilities are and what you need to consider if you are using a cloud service provider to store and manage client records. If you’re a newly registered tax practitioner, join us at 3:00pm to understand your ongoing registration obligations.

Register now.

Further enhancing your online security 

From Thursday 24 September, we’ll be introducing an additional security measure to further enhance your online security. Every time you login to My Profile to access your account, you will be taken through a two-factor authentication (2FA) process. You’ll have an option of having a 2FA code sent to your nominated email address or mobile number so make sure your contact details are up to date with us.
Learn more.

Tax file numbers in emails

We’ve developed a draft Practice Note (PN) that provides you with practical guidance and assistance on the appropriate use of client tax file numbers (TFNs). It will help you understand your obligations under the Code when disclosing TFNs and TFN information in email communications. This draft PN in now available for consultation. We invite your comments by emailing by 30 September 2020.  
Learn more.

Consultative forum report

Read a summary report on our Consultative Forum held on 24 August 2020. Find out key messages from us as well as the Australian Taxation Office (ATO). Find out what we’re doing to support you through COVID-19 and read about our compliance and policy updates.

Learn more.

Terminated for lodging with no supervising agent

A tax agent had his registration terminated and has been banned from applying for registration for the maximum five-year period. The Board Conduct Committee determined that the agent was no longer a fit and proper person. The agent allowed his company tax agent to lodge over 400 tax returns and 50 business activity statements (BAS) for clients while he was suspended from providing tax agent services. This meant the company had no other supervising registered individual tax agent to oversee its lodgements. 

Learn more.

Share your experience with the IGTO

The Inspector-General of Taxation and Taxation Ombudsman (IGTO) has started an investigation into the effectiveness of ATO written communications of taxpayer rights to review, investigate or appeal ATO decisions and actions. The review includes a survey on what is important in relation to ATO decisions, actions and outcomes – it’s anonymous and takes no more than 10 minutes to complete. The ATO’s communication of taxpayers’ rights is an important feature of procedural fairness and for maintaining confidence in the tax system. 

Learn more.
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About the Tax Practitioners Board
The Tax Practitioners Board (TPB) was established to regulate tax practitioners in order to protect consumers. The TPB assures the community that tax practitioners meet the appropriate standards of professional and ethical conduct.
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