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Annual Report shows encouraging results

Monday, October 29, 2012

Annual Report shows encouraging results

The Tax Practitioners Board (TPB) 2011-12 Annual Report was tabled in Parliament today and is now available on the TPB website. This year’s Annual Report focuses on the TPB’s achievements and the challenges over the last financial year.

Dale Boucher, Chair of the TPB said, ‘I am pleased with what the Board and the TPB has accomplished during this busy but rewarding year. Our vision is to bring all registered tax practitioners together under an effective regulatory framework for the benefit of the Australian community.’  

The report describes how we are seeking to achieve this. ‘The TPB is moving into a business as usual environment where we work with the profession to protect consumers and assure the community that registered tax practitioners meet appropriate standards of professional and ethical conduct.’

The TPB is particularly encouraged by the strong agent community of over 52,000 registered tax and BAS agents, finalising 18,786 tax and BAS agent registrations. The TPB has also improved the registration process, with the TPB renewing over 10,000 agent registrations.

During the 2011-12 period, the TPB secured the first civil penalty of $30,000 against an unregistered tax agent who was providing tax agent services while not being registered. The TPB has also progressed with a number of other cases.

‘The success of the civil penalty against the unregistered agent demonstrated the TPB’s commitment to protecting consumers’, said Mr Boucher.

Following extensive consultation with the industry, the TPB has been able to develop new information products and implement new polices. The continuing level of engagement with the agent community has allowed the TPB to develop strong working relationships. This has assisted the TPB with a number of activities including implementing the TPB’s Continuing Professional Education policy and its successful public launch.

The TPB is also developing productive working relationships with the education sector to develop educational frameworks to support the tax agent services regime, concerning Board approved courses for tax and BAS agents.

The full version of the 2011-12 Annual Report is now available www.tpb.gov.au/annualreport2012

About the Tax Practitioners Board

The Tax Practitioners Board (TPB) regulates tax and BAS agents to protect consumers. The TPB aims to assure the community that tax and BAS agents meet appropriate standards of professional and ethical conduct.

Visit www.tpb.gov.au for more information on the TPB.