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The Tax Practitioners Board has threatened to take “swift action” against practitioners who fail to bring their overdue lodgments up to date.
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TPB puts 3.8k practitioners on notice over outstanding tax obligations
22 July 2024
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Analysis by the Tax Practitioners Board has revealed that over 3,800 tax practitioners have one or more outstanding lodgments, including returns and activity statements.
The analysis also indicated that over 2,600 tax practitioners have a significant ATO debt without an active payment plan.
Speaking in a recent video, TPB chair Peter de Cure warned that tax practitioners who significantly fail in their personal tax obligations may breach the Code of Professional Conduct.
“We call on you to act now to confirm your compliance,” de Cure said.
“We will work with the ATO to support compliance and address the highest risk cases.”
De Cure warned the TPB would take "swift action" against unregistered preparers and those who fail to comply with their personal tax obligations.
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“By addressing those in the profession who fail to meet the required standards, we seek to address the unfair playing field,” de Cure said.
De Cure encouraged any practitioners having difficulty meeting their obligations or struggling with their mental health and wellbeing to contact the TPB.
"We will endeavour to support you wherever possible," de Cure said. "There are also specialised organisations that can provide information and support to anyone experiencing a personal crisis, including Beyond Blue and Lifeline."
De Cure said the TPB was "operating in an environment of increased scrutiny and expectations that it improve professional standards and address misconduct.”
The government's reform agenda would be set to improve the tax and regulatory system, including the eight additional expectations of the code, and would have the effect of “improving transparency and reporting, ensuring powers and sanctions are fit for purpose, and enhancing secrecy and oversight frameworks.”
He acknowledged that tax practitioners are concerned by the upcoming code changes, but emphasised the importance of remaining compliant to continue operating in the industry.
“In this rapidly changing environment, we recognise there may be concerns about change and the unknown,” de Cure said.
“Our focus continues to be working with you to support the Australian community by upholding professional standards and the integrity of the tax system.”
The TPB will work alongside other organisations in the industry to support and commend those working in line with compliance requirements, he said.
“In collaboration with other agencies, including the ATO, we will renew our focus to support the majority of honest tax practitioners in their voluntary compliance with professional and ethical standards.”
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