SMSF Association Submission
Implementation of the Government’s response to the Review of the Tax Practitioners Board
The external professional association members of the Tax Practitioners Board (TPB) Tax Practitioner Governance and Standards Forum (TPGSF), collectively the Joint Bodies, make this submission in response to consultation on the Exposure Draft Treasury Laws Amendment (Measures for Consultation) Bill 2022: Tax Practitioners Board Review (the ED). Additional professional association members3 from the TPB Consultative Forum also support the views presented in this submission.
We thank Treasury for the opportunity to discuss the consultation at the TPB Forum on 6 December. This submission provides further details of the Joint Bodies’ response to the changes proposed in the ED.
The complexity and scope of Australia’s tax and superannuation system means that almost all Australian businesses and almost two-thirds of individuals use a tax practitioner to help them with their tax affairs. As at 30 June 2022, there were 45,333 tax agents and 17,007 BAS agents4. Many of these agents employ others. Collectively, they employ tens of thousands more people, to provide tax advice, as well as prepare and lodge the millions of returns and forms required by the ATO each year.