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Last Thursday, 23 June 2010 Tax Counsel Deepti Paton ATIA attended a meeting of the Tax Practitioners Board Consultative Forum.

At this meeting, forum members discussed a range of issues, including:

  • Professional Indemnity Insurance (PII). The Chair noted that the Board’s website had crashed as a result of overwhelming numbers of tax agents seeking to notify the Board of their PII cover, but was now up and running again. Where tax agents have sought to notify the Board but have not been able to do so due to technical difficulties with the website, agents are encouraged to email the Board directly. The Board will consider such attempts to notify by email (before 1 July 2011) to be sufficient to satisfy the requirements, in light of the circumstances.
  • The Secretariat noted that the Board had been concentrating on new registrations rather than renewals (as tax agents did not lose their registration while a renewal was being processed, whereas new registrants were waiting on registration to commence practice), but would be concentrating on reducing the numbers of outstanding registrations in the coming months. The Secretariat acknowledged the patience shown by the tax agent community in relation to registration times, and noted that the Board was aiming to be able to process an application that included all relevant details within a month by the end of 2011.
  • The Chair discussed the Board’s compliance strategy and the situations in which disciplinary action in relation to a tax agent may be considered to be public, so that the Board is able to notify the agent’s professional association.
  • The Secretariat gave forum members an overview of the proposed redesign of the Board’s website. 
  • Professional practice matters, specifically the need for additional guidance from the Board in relation to the meaning of “reasonable care” and adequate supervision”. 
  • Finalisation of exposure draft on course providers.  
  • Information on the Board’s mix and match approach and the Qualifications advice service.  
  • The strategy for renewal of tax and BAS registrations, specifically the proposed approach that rewards BAS agents for renewing early in order to spread out the Board’s work-load.

Members who would like more information in relation to the above are encouraged to contact us at Tax Policy.

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