Tax practitioner regulation and compliance to be enhanced
Tax practitioner regulation and compliance will be enhanced by strengthening the sanctions available to the Tax Practitioners Board (TPB), modernising the registration framework for tax practitioners and providing funding to the TPB to undertake additional compliance targeting high-risk tax practitioners over 4 years from 1 July 2025.
The measure will protect taxpayers from tax agent misconduct, including poor and unlawful tax advice, and maintain community confidence in the integrity of the tax system. The measure will also support the sustainability of the tax profession by increasing the ease of re‑entry for tax and business activity statement agents who take career breaks.
The measure forms part of the government’s response to the PwC matter and implements recommendations from the 2019 Independent Review of the Tax Practitioners Board.
The government will consult on the implementation details of the measure.
Source: Budget Paper No 2, pp 4–5.
