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The board’s plan includes more data-driven performance targets in a “robust system of regulation”.
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TPB aims to reduce red tape, increase automation
11 August 2022
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Easing the regulatory burden on tax practitioners and reducing red tape are key targets for the TPB over the next 12 months, the regulator said in its 2022–23 Corporate Plan.
The board said it will “strive for excellence, not just sufficiency”, in itself and the profession it regulates, and set out its key activities for the coming year with an increasing focus on performance targets.
TPB chair Ian Klug said the board was adopting data-driven strategies to work with other bodies and deliver “a robust system of regulation” that enhanced the profession and ensured “community confidence in the integrity of the tax system”.
“This is good for the profession, government and consumers: everyone wins,” said Mr Klug. “Unfortunately, we expect that a small minority of tax practitioners will not meet the required standards of professionalism and ethics expected of them and this will require more stringent action by the TPB to remove them from the tax system.
“The nation can trust that we will pursue wrongdoing by tax practitioners and activity by unregistered preparers to the full extent of our resources and powers.”
The TPB said it would develop its regulatory program in consultation with its partners and professional associations, building on initiatives such as the Tax Practitioner Governance and Standards Forum established last year.
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More rapid adoption of technology was a key feature of the TPB’s strategy, Mr Klug said, with the goal of reducing the administrative burden on practitioners.
“We will maintain our ongoing focus on easing the regulatory burden on tax practitioners and reducing red tape, while ensuring that standards are maintained,” he said.
“We continue to make our client interactions easier and faster by streamlining and automating many of our registration activities.
“The pace of automation will accelerate in 2022-23 as we bring new technologies online, including our new customer relationship management software, Workbench.”
Key activities over 2022–23 were focused on achieving objectives outlined in the TPB’s 2021–24 Strategic Plan, with goals that included continued investment in staff, streamlining interactions with the profession, contributing to a more effective tax system and strengthening compliance activities.
The key function of administering its registration system has set targets of 80 per cent renewal within 30 days and 95 per cent within 60 days, and making the register available 99 per cent of the time.
Biannual survey results showed 65 per cent of new and 74 per cent of renewal registration applicants were satisfied with the process.
The TPB planned to increase its compliance investigations, with more than 2,000 completed, and raise the number of unregistered preparers identified.
It was also developing performance targets for sanctions where tax practitioners had failed to comply with the code of professional conduct.
It would continue to issue guidance to practitioners with 79 per cent satisfied with the results but no performance target set.
Mr Klug said the TPB was evolving to meet the opportunities of the future.
“We have commissioned a workforce review and we are in the process of reshaping our structure to prepare for future changes, including those flagged by the 2019 review of the TPB (James Review), and the changing needs of the tax profession,” Mr Klug said.
“This will make us more efficient and more capable. Our effectiveness will also be enhanced by the modernisation of our enabling legislation and policy framework.”
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