The Tax Practitioners Board (TPB) has published its 2024-25 Annual Report, highlighting a year of significant progress in strengthening integrity, enhancing practitioner standards, and improving regulatory efficiency.
The Annual Report outlines the TPB’s ongoing commitment to engaging with tax practitioners and the broader community, with a strong focus on upholding professional standards and addressing tax adviser misconduct. It also details the steps taken to streamline registration processes and deliver targeted support and guidance to practitioners.
In reviewing the year, Chair of the TPB, Peter de Cure AM, said: ‘The Annual Report demonstrates our ongoing dedication to a strong and trusted tax profession. Through targeted reforms, proactive compliance, and enhanced education, we continue to protect the public and uphold professional standards.’
Some key highlights from the 2024–25 Annual Report include:
- reducing red tape and improving tax practitioner services, including the streamlined annual registration process
- supporting the public, especially assisting 3,500 clients to reset their tax affairs following sanctions against their tax adviser
- identifying environmental changes from over 13,000 complaints and referrals, shaping our strategies and risk management
- a fair and tailored compliance program, dealing with tax advisers who fail to act lawfully and ethically. This included around 275 serious sanctions to stop misconduct and protect the public
- promoting professional development with guidance products and 26 webinars attracting 100,000 attendees, supporting improved services and voluntary compliance
- supporting Government priorities and reforms to improve the tax regulatory system
- stopping scam tax advisers, without registration, who might exploit vulnerable clients with poor advice. The Annual Report notes the Federal Court’s $1.8m penalty against unregistered adviser Jayden van Dyke.
Mr de Cure also acknowledged that these achievements would not be possible without community and stakeholder support. ‘I want to thank Minister Mulino, partner agencies, the majority of tax practitioners who honestly serve their clients, professional associations and the TPB team, working together for a better tax system.’
The 2024-25 Annual Report provides further details on the TPB’s activities and outcomes, including performance against its measures for the year.
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About the Tax Practitioners Board
The TPB regulates tax practitioners in order to protect consumers and ensure the integrity of the profession and the tax system. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Follow us on LinkedIn and Facebook.
