The Tax Practitioners Board has clarified the nature of its relationship with the ATO and reminded advisers of the process for ensuring compliance with TASR.
Last week, ifa reported comments from AIOFP executive director Peter Johnston that suggested external factors such as the CPA Australia review and fraud allegations relating to former ATO deputy commissioner Michael Cranston held up the process for professional association recognition by the TPB.
In response, the TPB issued a statement describing the report as “inaccurate” and clarified a number of procedures pertaining to TASR accreditation.
“The TPB assesses an application for accreditation as a recognised professional association when their application is submitted,” a TPB spokesperson told ifa.
“However, the TPB can only make a decision to approve an application where all the information has been received and satisfies all of the requirements for recognition set out in the Tax Agent Services Regulations 2009 (TASR).
“Membership of a recognised professional tax (financial) adviser or tax agent association is just one of the four pathways that individual tax (financial) advisers can use to meet the qualifications and experience requirements for registration. Tax (financial) advisers can also rely on tertiary qualifications, a diploma or higher award, or work experience, combined with board approved courses and relevant experience.
“The TPB is independent of the Australian Taxation Office (ATO), however, the TPB works with the ATO ensure the integrity of the tax system and high levels of consumer protection are maintained.”
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