Publication date: 19 Feb 20 |
Source: THE TAX INSTITUTE
Major increase in CPE hours proposed
SYDNEY, 19 February 2020:
In response to today’s release by the Tax Practitioners Board of their proposal to increase CPE hours for tax practitioners by over 30%, The Tax Institute’s President, Peter Godber, said: “The Tax Institute wholly supports the requirement for continuous learning throughout the course of a tax practitioner’s working life. Continual upskilling of tax practitioners ensures highly skilled members of the tax profession. This, in turn, assures the highest quality services are provided by tax professionals to their clients.
“The Tax Practitioners Board’s proposal increases CPE for tax practitioners by 10 hours per year over the 30 hours per year on average to which tax practitioners are accustomed,” said Mr Godber. “This is a significant increase in the amount of time that busy practitioners will need to carve out to meet their CPE to maintain their registration with the Tax Practitioners Board. Thought will need to be given to how practitioners at different stages in their careers and lives, such as practitioners on long periods of leave, will be able to meet these requirements,” he said.
“This announcement comes in the lead up to The Tax Institute’s inaugural Tax Summit 2020. With over 1000 tax practitioners attending, this is bound to become a hot topic of conversation at networking sessions.”
“We will consider the impact of this proposal on our members during the consultation period and look forward to working with the Tax Practitioners Board as this proposal develops,” Mr Godber said.
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The Tax Institute is the leading forum for the tax community in Australia. Our reach includes membership of 12,000 tax professionals from commerce and industry, academia, government and public practice and 40,000 Australian business leaders, government employees and students. We are committed to representing our members, shaping the future of the tax profession and continuous improvement of the tax system for the benefit of all, through the advancement of knowledge, member support and advocacy. Read more at taxinstitute.com.au