25 August 2026
Chartered Accountants Australia and New Zealand (CA ANZ) supports reforms that would give the Tax Practitioners Board (TPB) a broader range of sanctions to address misconduct, but says proposed interim suspension powers must be clear, proportionate and subject to appropriate safeguards.
In a submission to Treasury on draft regulations and determinations accompanying the reforms, CA ANZ said the expanded sanctions toolkit would help the TPB take stronger and targeted action, while urging amendments to the legislation to ensure interim suspension powers are only used where there is immediate risk.
"CA ANZ supports the expansion of the TPB's sanctions toolkit. A broader range of sanctions will help ensure the TPB has proportionate and targeted responses available for different types of misconduct,” CA ANZ Tax, Superannuation and Financial Services Leader, Susan Franks said.
"The TPB's proposed interim suspension power must be reserved for the most exceptional circumstances.”
"Where a practitioner can be suspended without first being afforded natural justice, the threshold for exercising that power should be limited to cases involving an imminent risk of serious harm.”
“Without that safeguard, practitioners could suffer significant and potentially irreversible damage to their business and reputation,” Ms Franks said.
CA ANZ looks forward to working constructively with Treasury and the TPB to ensure the reforms strike the right balance between effective enforcement and procedural fairness.
About Chartered Accountants Australia and New Zealand
Chartered Accountants Australia and New Zealand represents nearly 143,000 financial professionals, supporting them to make a difference to the businesses, organisations and communities in which they work and live. Chartered Accountants are known as Difference Makers. The depth and breadth of their expertise helps them to see the big picture and chart the best course of action.
www.charteredaccountantsanz.com
|
For more information contact: M +61 431 601 002
|
M +61 422 644 847
|