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New governance forum paves way for implementing TPB reforms

New governance forum paves way for implementing TPB reforms

The independent review of the Tax Practitioners Board (TPB) and the Tax Agent Services Act 2009 (TASA) recommended a new governance forum to consult tax practitioners on significant legislative changes, including the Code of Professional Conduct. The Government supported this recommendation in its response to the review.

To implement this recommendation, the Tax Practitioner Governance and Standards Forum (TPGSF) was recently established. The TPGSF is co-chaired by the TPB Chair and CPA Australia, and includes representatives from professional associations, the TPB, the Australian Taxation Office and the Professional Standards Council.

The TPB Chair Mr Ian Klug AM said, ‘The establishment of this forum is an important step in implementing the various TPB and TASA reforms supported by the Government.’

‘This forum is a new platform for the TPB to hear from practitioners and associations about the impact of new policy and standards upon their industry and we look forward to working with our co-chair and other members of the Forum.’

The TPGSF held its inaugural meeting on 6 July 2021.

Commenting on the inaugural meeting, Co-chair Elinor Kasapidis from CPA Australia said, ‘The inaugural meeting went well with representatives expressing their keen interest to be involved early in the consultation phase of any legislative changes and implementation of administrative measures of the TASA and TPB reforms. The members also endorsed the TPGSF Charter and discussed the key priorities of the forum at this meeting.’

A summary of key messages from this inaugural meeting is now available on the TPB website.

About the Tax Practitioners Board:

The Tax Practitioners Board regulates tax practitioners in order to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Follow us on Twitter @TPB_gov_au, Facebook and LinkedIn

Wednesday, August 4, 2021