TPB Welcomes Reform Announcement

An independent review of the Tax Practitioners Board began in early 2019. The review was completed late last year, and the government has now released its response to the recommendations for reforms to the Tax Agent Services Act 2009 and the Tax Agent Services Regulations 2009. 

The TPB Chair, Mr Ian Klug, has said he is “pleased that the announcement by the Assistant Treasurer recognises the critical role of the TPB…” The reforms aim to reduce red tape for practitioners, promote community confidence and set higher standards for the tax profession. 

Other items in discussion are the level of independence from the ATO, TPB accountability, ensuring education requirements are relevant, strengthening eligibility requirements to ensure high standards of ethical and professional behaviour and expanding the publicly available information about registered agents.

The government supports most of the review’s recommendations. Industry bodies will now engage with the government in a process of consultation to develop the proposed reforms for implementation from 2021 onwards.

TPB – Reform announcement