Tax agent fees to rise under government TPB plan

The government has committed more than $20 million over four years to the Tax Practitioners Board that will be subsidised by an increase in tax practitioner registration fees.

In the 2018-19 budget papers, the government said the proposed injection of funds is to help the TPB in “meeting its broadened responsibilities to ensure that tax agent services are provided to the public in accordance with appropriate professional and ethical standards.

The proposed registration fees would be $675 for a tax agent, $540 for a tax (financial) adviser and $135 for a BAS agent.

TPB chair Ian Taylor welcomed the announcement of additional funding from the government.

“The additional funding will ensure that the TPB is able to continue to meet its legislative responsibilities and protect consumers of tax services by registering and regulating nearly 80,000 tax agents, business activity statement agents and tax advisers in Australia,” Mr Taylor said.

The TPB noted the proposed application fee increases are expected to be effective from 1 July 2018.

From 2019-20 onwards, the application fee amounts would be subject to annual consumer price index adjustments.

In March, speaking at the Accounting Business Expo in Sydney, Mr Taylor said the ATO has referred a number of cases concerning agents over-claiming work-related expenses for their clients to the TPB in recent times, adding that guilty agents will face sanctions from the TPB following an investigation.

Further, Mr Taylor said the TPB may issue a written caution, issue an order, suspend a registration, or terminate a registration, for failure to comply with the Code of Professional Conduct.

4 thoughts on “Tax agent fees to rise under government TPB plan

  • May 11, 2018 at 3:15 pm

    It has been indicated that the non-business categories in TPB fees has been eliminated is this correct it used to be $250 non-business and $500.00 for Tax Agents and BAS Agents $50 & $100 if this is the case on average the fees will have increased 80%. So if you are an honest hardworking Tax Agent doing the right thing you are to be punished to pay for the minority that do the wrong thing… hardly seems fair. This will put my fees up to $2025.00 as I have a limited licence financial planning for SMSF’s and Super that has to be maintained in a separate company and attracts a seperate fee fully fee as I am already a registered Tax Agent and therefore am not allowed to access the Limited tax licence for FP according to the TPB. With this and the ASIC fees for SMSF Auditors and the proposal to have tri annual audits is it worth being registered at all it would appear to be cheaper to go and work for someone else on salary.

  • May 14, 2018 at 12:38 pm

    Totally agree with Debra. I guess what they want is a consolidation of the industry. The overhead cost increase is out of proportion to the small practice. Their agenda is to have fewer small practitioners to be monitored.

  • May 14, 2018 at 2:17 pm

    Another issue is how much they earn from this levy. The fee collected should be used in the industry monitoring and administration. Any excess above that is a tax to the tax practitioner.

  • May 14, 2018 at 3:30 pm

    How about the tax agents board paying tax agents for all the free administration we do on the governments behalf. i think you have to go back to the campbell report where the treasurer recognised the value that accountants provided. Since then nadda….. a valued educated group of individuals used and not paid. Looking back we should have unionized in the 80’s. Since self assessment the government has incrementally devolved itself from time intensive responsibilities, left them up to others and called it an efficiency dividend.

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