Hold-ups at TPB with renewal applications

Hold-ups at TPB with renewal applications

Writing

The Tax Practitioners Board anticipates a significant increase in its workload in the coming months, meaning tax and BAS agents may experience hold-ups with their renewal applications.

The TPB issued a note today explaining it currently has a large number of renewal applications for tax (financial) advisers, which are due for processing over the next few months.

Approximately 19,000 are due to renew their applications between now and 31 January 2018.

Because of this volume, the TPB advised that the expected service standards with application processing may be impacted — meaning, there could be delays.

This should not adversely impact the work or status of tax and BAS agents.

“New applications will be given higher priority, so these applicants, once registered, may start providing tax agent services earlier,” said Ian Taylor, chair of the TPB.

“However, I want to reassure tax and BAS agents that so long as you lodge your renewal application on time, you will continue to be registered with the TPB until we notify you of the outcome of your application even if after your registration expiry date,” Mr Taylor said.

Mr Taylor has reported relatively few issues with tax and BAS agents meeting their lodgment obligations, and has been largely pleased with their deadline compliance.

Recently however, he announced some investigations into some problem practitioners, who may have breached the code of conduct by failing to meet deadline. You can read more about this here.

 

 

 

Hold-ups at TPB with renewal applications
accountantsdaily logo
promoted stories