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Six tax practitioners have been suspended by the Tax Practitioners Board in the first-of-its-kind compliance action against those who fail to lodge their annual declarations on time.
TPB suspends 6 agents in declaration warning
28 June 2019
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7 minute read
In a stern warning to practitioners, the TPB has issued three sanctions to six tax practitioners, compromising of a written order, an order to lodge their annual declaration within two months and a suspension of registration for three months.
All six tax practitioners had failed to lodge their annual declaration due by 1 April.
The suspensions came into effect on 20 June, and come as a warning ahead of tax time, with TPB chief executive Michael O’Neill revealing that only 69 per cent of annual declarations due before 1 July have been submitted, with around 1,425 practitioners still to lodge.
Annual declarations are due each year before the anniversary of a practitioner’s registration expiry date.
Mr O’Neill said annual declarations provide confirmation that registered practitioners are fully compliant with their legal and ethical obligations, including professional indemnity insurance, and for individual practitioners, continuing professional education.
“They also provide valuable intelligence to the TPB so that we can address high-risk behaviours that would otherwise undermine public confidence in the tax profession,” he said.
“Close to the end of June, we can report that registration renewals are tracking well, but the lodgement of annual declarations still needs close monitoring.
“Nearly 90 per cent of the registration renewals due before 1 July have been submitted, which is positive news.”
Mr O’Neill said the TPB is working closely with recognised professional associations to ensure members submit their registration renewal or annual declaration with the TPB on time.
“We have made it clear that failure to submit by the due date may result in a sanction, including suspension or termination of registration,” Mr O’Neill said.
“These sanctions make it clear that tax practitioners, in positions of trust in the community, must comply with their ethical and legal requirements, and lodge their annual declarations in a timely manner.”
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- this is nothing. Just the tip of the iceberg. ATO, I suggest you do CPD Audits.
a lot of tax agents just complete the declaration, they rarely get audited by their professional bodies. I know lots of "agents" who are nowhere near meeting their CPD obligations.
if they had, you would not find issues with 85% of lodged returns. a lot of them have just snuck in without even completing Australian company law or Australian taxation law.
we really should make the requirement a LLB, grad dip in taxation, masters in taxation or LLM before you can be registered as a tax agent.
c'mon ATO, TPB, LIFT your standards. it's too low. and audit CPD.0- While you are correct on the CPD - most of them are too busy on here having a whinge - you’re way off on needing an LLB or MTax to be well sorted in tax - I am always amazed at how poor the tax skills are of these sorts of people !0
- With all due respect to you good sir, or madam. The current level of education required to register as a tax agent is way too low; that's why the ATO sees a 85% failure rate with the tax returns lodged with the assistance of a tax agent.
that's 85% of returns being lodged today being incorrect in some form or another meaning only 15% are correct.
from a horizontal equity perspective, this is very harmful to others in society, those honest people who only claim what is lawful, and detrimental to people like myself who are meticulous in ensuring the tax laws are applied most correctly to the taxpayers circumstances by continually refreshing my knowledge and exceeding the number of CPD hours required.
Please do rethink your assessment on the level of education being required as sufficient, as the numbers seem to support my view instead.
I bid you good day.0
- And the evidence for your assertions are? Or is it just an excuse to bad mouth Agents who are constantly being sidelined by the ATO.
You are aiding and abetting the process of denigrating the vast majority of Agents who do the right thing. The ATO are doing so well on their own to sideline Agents. Good going for your help.
Every group of Professionals, Tax Payers, Politicians, ATO Officers, will all have a percentage of non compliant members. It is the TPB's job to regulate Tax Agents. Let them do it. They appear to be on the job.
0 - Personally I think that Tax Agent Registration should only be allowed after 10 years working in a tax practice.
Too many people are good at passing exams but then forget it all. I have recently seen one person get registered, she had more qualifications than me yet she did not have a clue about tax law or administration; and she is out advising clients now.0
- More bureaucracy from the government. Annual declarations. What a joke. We are qualified professionals stop treating us like children.0
