Joint Submission – Exposure Draft: Treasury Laws Amendment Bill: Enhancing TPB Sanctions Framework

The Joint Bodies appreciate the opportunity to comment on the exposure draft to the Treasury Laws Amendment Bill: Enhancing TPB Sanctions Framework (the draft Bill).

The Joint Bodies welcome the implementation of the James Review recommendation that the Tax Practitioners Board (TPB) be provided with a greater range of sanctions. The ability to issue infringement notices, participate in enforceable undertakings, and issue interim and contingent suspensions of a tax practitioner’s registration will help ensure that the TPB has appropriate sanctions for a wider range of contraventions of the Tax Agent Services Act 2009 (Cth) (TASA). The reintroduction of criminal sanctions, and introduction of an additional civil penalty, for unregistered preparers are strongly supported.