Chartered Accountants Australia and New Zealand (CA ANZ) has lodged a submission for the review of the effectiveness of the Tax Practitioners Board (TPB), including the Tax Agent Services Act 2009 (TASA) and the Tax Agent Services Regulations 2009 (TASR) to ensure that tax agent services are provided to the public in accordance with appropriate professional and ethical standards.
Overall, we believe that the TPB’s regulation of tax practitioners is working effectively in that there is little evidence of regulatory failure in terms of the legislative objective of consumer protection. The TPB has been active and performing its enforcement function effectively and successfully, although we feel more strategic interactions with the tax profession and relevant professional associations could improve its efficiencies. There is room for improvement around the academic prerequisites and the TPB’s compliance, investigation powers and functions.
The submission also provides a log of specific issues that we have collated from CA ANZ’s experience with the TASA over the past decade.