TPB extends CPE and renewal concessions
The Tax Practitioners Board (TPB) has delivered tax practitioners three and six month extensions to concessions it granted them around continued professional education (CPE) requirements, relevant experience, renewals and their annual declaration.
A three-month extension has been granted with respect to CPE and six months with respect to renewals and declarations.
In announcing the extensions, TPB chair, Ian Klug said they reflected the Board’s commitment to assisting tax practitioners who were experiencing a range of changed business circumstances during this time.
“Given the COVID-19 related challenges during the year, we have been swift to relax regulatory requirements, including annual declarations, registrations and CPE requirements,” Klug said. “The TPB is committed to continuing to provide support and to be pragmatic in recognition of the broad range of impacts of the pandemic on tax practitioners and their clients.”
“While some are experiencing increased demand for their services, others may have less work and therefore, less relevant experience, and may need to access both self-care resources by the way of the CPE concession, and possibly fee deferrals.
“These extensions to the original concessions announced by the TPB in March are intended to provide tax practitioners with additional reassurance that their health and well-being is our number one priority,” he said.
“We encourage tax practitioners to contact the TPB if they are encountering difficulties in meeting their TPB obligations so that we can consider their individual circumstances and work with them to find an appropriate outcome.”
Klug said the concessional arrangements are in line with a whole-of-government approach to managing the pandemic and its broad impacts on the community.
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
