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Tax Practitioners Board extends concessions in response to COVID-19

Tax Practitioners Board extends concessions in response to COVID-19

Tax practitioners now have access to extended COVID-19 concessions to assist them to meet their registration and renewal requirements during the pandemic.

In addition to the existing extension of the annual declaration concession to 31 December 2020, other Tax Practitioners Board (TPB) COVID-19 initiatives have been extended as follows:

  • continued professional education (CPE) (private reading and activities) concessions to be extended to 31 December 2020
  • renewal concession to continue to 30 June 2021
  • relevant experience concession to continue to 30 June 2021.

TPB Chair, Mr Ian Klug AM, said the concessions reflect the Board’s commitment to assisting tax practitioners who are experiencing a range of changed business circumstances during this time. 

‘Given the COVID-19 related challenges during the year, we have been swift to relax regulatory requirements, including annual declarations, registrations and CPE requirements,’ Mr Klug said.

‘The TPB is committed to continuing to provide support and to be pragmatic in recognition of the broad range of impacts of the pandemic on tax practitioners and their clients,’ he said. 

‘While some are experiencing increased demand for their services, others may have less work and therefore, less relevant experience, and may need to access both self-care resources by the way of the CPE concession, and possibly fee deferrals.

‘These extensions to the original concessions announced by the TPB in March are intended to provide tax practitioners with additional reassurance that their health and well-being is our number one priority,’ he said.

‘We encourage tax practitioners to contact the TPB if they are encountering difficulties in meeting their TPB obligations so that we can consider their individual circumstances and work with them to find an appropriate outcome.’

Mr Klug said the concessional arrangements are in line with a whole-of-government approach to managing the pandemic and its broad impacts on the community.
Resources highlighting support for tax practitioners during COVID-19 are available here.

More information on the impact of the concessions on tax practitioners is available here.

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.

Monday, September 7, 2020