TPB Annual Report highlights key achievements
Today the Tax Practitioners Board (TPB) 2012-13 annual report was tabled in Parliament. This report highlights the TPB’s key achievements and progress over the last financial year.
Ian Taylor, Chair of the TPB said, “Our objective is to ensure that tax agent services provided by tax practitioners are provided to the public in accordance with appropriate standards of professional and ethical conduct. This annual report details how we have worked collaboratively with our key stakeholders to achieve this objective”.
Mr Taylor added, “I am encouraged to see the positive results achieved by the TPB last financial year. “Our regulatory framework is now largely developed and giving good support to tax practitioners, the vast majority of whom provide a quality service to their clients”.
Some of the highlights from the last financial year include:
- 26,773 tax and BAS agent registration applications processed, an increase of 42% on the previous year
- a reduction in the average processing time for a complete registration application from 35 days in July 2012 to 19 days in June 2013
- 2,104 registered and unregistered agent compliance cases finalised
- 195 registered agents sanctioned or had their renewal application rejected at the conclusion of TPB compliance activities, and five matters were referred to the Federal Court for consideration of civil penalties.
Further information about the TPB
The TPB regulates tax practitioners to protect consumers. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct.