Assistant treasurer Stuart Robert has announced a review into the effectiveness of the TPB, and the operation of the Tax Agent Services Act 2009 and the Tax Agent Services Regulations 2009.
The review will consider whether the legislative and governance framework for the Tax Practitioners Board delivers on its policy objectives to ensure that tax agent services are provided to the public in accordance with appropriate standards of professional and ethical conduct.
Hall & Wilcox consultant Keith James has been appointed to chair the review and will be assisted by the Department of the Treasury.
Mr James, a registered tax agent, was a Board of Taxation deputy chair, and has held various roles in the tax profession including as chair of the Taxation Centre of Excellence and the National Tax Advisory Committee for CPA Australia.
In particular, the review will examine if the legislative and governance framework is operating as intended and is fit for purpose.
It will also consider whether the tax agent services legislation supports the TPB in responding to known and emerging issues, and any other matter that may enhance the regulatory environment that tax practitioners operate under.
The review will accept submissions by 12 April, with a discussion paper to be issued in June once submissions are considered, before recommendations are made to government by 31 October 2019.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.