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
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
