First meeting of Tax Practitioner Governance and Standards Forum tackles TPB reforms

A new forum to consult with tax practitioners on significant legislative changes has met for the first time.

Following the conclusion of an independent review of the Tax Practitioners Board (TPB), the results of which were released in November 2020, the government agreed to a recommendation to create a new forum to involve tax practitioners in matters of tax governance.

The new group, the Tax Practitioner Governance and Standards Forum (TPGSF), held its first meeting on 6 July.

The TPGSF is co-chaired by the TPB chair and CPA Australia. Its members include representatives from the Institute of Public Accountants and other professional associations, the Australian Taxation Office, Treasury, and the Professional Standards Council.

TPB chair Ian Klug AM said the establishment of the forum was an important step in implementing the reforms to the TPB and the Tax Agent Services Act 2009 (TASA) that were proposed by the independent review and supported by the government.

“This forum is a new platform for the TPB to hear from practitioners and associations about the impact of new policy and standards upon their industry and we look forward to working with our co-chair and other members of the forum,” Mr Klug said.

Co-chair Elinor Kasapidis from CPA Australia said, “The inaugural meeting went well with representatives expressing their keen interest to be involved early in the consultation phase of any legislative changes and implementation of administrative measures of the TASA and TPB reforms.”

During their first meeting, the co-chairs presented a draft of the TPGSF charter, which was endorsed by members. They also discussed key priorities for the forum, including potential changes to the Code of Professional Conduct, and measures to raise professional standards while reducing red tape.

Non-government members of TPGSF will soon provide treasury with a collective position in relation to a number of the other recommendations to come out of the review of the TPB.