03 Mar 11 TPB marks first year
In a media release issued on 2 March 2011, the Chair of the Tax Practitioners Board, Dale Boucher, noted that 1 March 2011 marked the first year of operation of the Board and said that solid steps have been taken to establish a single national system to register and regulate all tax and BAS agents.
“In our first year we laid the groundwork for a national regulatory system that better supports the professionalism of agents, reducing uncertainty and creating greater clarity and consistency. Ultimately consumers of tax services will also be better protected by the new arrangements,” Mr Boucher noted. “We have done this by explaining the basics of what is expected of agents under the Code of Professional Conduct, which agents must comply with, and by defining the education requirements they must meet.”
In 2011, the TPB will focus on a number of priorities, including:
- refining and improving its registrations function, aiming to process registrations within a month of receipt;
- consolidating agent education requirements, including defining continuing professional education expectations;
- continuing to work closely with the professional associations to ensure that agent's views are heard, understood and reflected in practical interpretations of the TASA;
- developing a holistic and balanced compliance approach; and
- implementing the TPB professional indemnity insurance requirement from 1 July 2011.