The Tax Practitioners Board (TPB) released its 2017/18 Annual Report under s60–130(1) of the Tax AgentServices Act 2009.

Amongst the things it reports on, are the following.

  • The TPB has been in operation, 8 years (since 1 March, 2018).
  • By 30 June 2018 the registered tax practitioner population had tripled to 77,749 (since the beginning), with 42,561 tax agents, 15,638 business activity statement (BAS) agents and 19,550 tax (financial) advisers now part of the TPB’s regulatory framework.
  • In response to the growing threat of cyber-attacks, we provided further guidance and education to tax practitioners to reinforce the importance of cyber security for their practices and their clients.
  • The complaints statistics are as follows.
    • 1,528 complaint were received, from:
      • the public – 1,023 (67%);
      • Registered Tax Practitioners – 125 (8%);
      • ATO – 120 (8%); and
      • Other – 260 (17%).
    • 287 Administrative sanctions:
      • Written caution – 182
      • Orders – 81
      • Termination – 24.
    • 7 matters affirming the TPD decision
      • AAT – 5
      • Federal Court – 2.

[TPB website: publications, 2017/18 Annual Report; LTN 209, 30/10/18; Tax Month – November 2018]

FJM 12.11.18

 

CPD questions (answers available)

  1. What multiple, of original registrations, is the TPB up to at 30 June 2018?
  2. What is the number of ‘tax (financial) advisers that were registered, with the TPB, at 30 June 2018?
  3. How many complaints were there?
  4. What number of those resulted in the Agent’s registration being terminated?
  5. How many of the TPB decisions were upheld in the AAT or the Federal Court (combined)?

 

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