Message from the Chair
The Government response to the Review of the Tax Practitioners Board (TPB) was released on 27 November 2020. We welcome the announcement by the Minister for Housing and Assistant Treasurer, The Hon Michael Sukkar MP, which recognises the important role and good work we do in the regulation of tax practitioners. The Government’s response will result in us being more effective and independent, reduction in red tape for tax practitioners, enhanced community confidence and support for high standards in the tax profession.
In response to the 28 recommendations of the final report of the Review, the Government has announced that it supports 20 of the Review recommendations in full, in-part or in-principle. The Government will begin to implement a range of reforms to the Tax Agent Services Act 2009
(TASA) and the Tax Agent Services Regulations 2009 (TASR) and consult broadly on a range of other measures.
The Assistant Treasurer also recognised the need to update the TASA to acknowledge that we are a more mature organisation, that is no longer in start-up phase. These welcome reforms bring key changes to enhance our effectiveness. They will:
- further enhance and strengthen our position as an effective, independent regulator
- reduce red tape for tax practitioners
- bolster eligibility requirements to ensure that only those individuals and entities that meet high standards of ethical and professional behaviour can obtain tax practitioner registration
- further protect consumers of tax practitioner services by improving the integrity of the tax practitioner profession and provide greater community confidence
- support whole of government approaches; and
- increase collaboration with our co-regulators.
As certain reforms are implemented, we will provide further information and guidance to assist you and other stakeholders. We will also work with the Treasury and Government to support consultation on the other measures proposed, ensuring the best outcome for you and taxpayers who rely on tax practitioner services.
Ian Klug AM