The Tax Practitioners Board’s (TPB) Annual Report for 2012-13 was on Mon 28.10.2013, tabled in Parliament (out of session). TPB Chair Ian Taylor said the “regulatory framework is now largely developed and giving good support to tax practitioners, the vast majority of whom provide a quality service to their clients”.
The Board reported that in the last financial year, 26,773 tax and BAS agent registration applications were processed, an increase of 42% on the previous year. The average processing time for a complete registration application was reduced from 35 days in July 2012 to 19 days in June 2013.
The Board also reported that 195 registered agents were sanctioned or had their renewal application rejected at the conclusion of TPB compliance activities, and 5 matters were referred to the Federal Court for consideration of civil penalties.
Source: TPB media release, 28 October 2013
[LTN 208, 28/10/13]