Government launches TPB review

The Federal Government launched a review into the effectiveness of the Tax Practitioners Board.

In a media release on Tuesday Assistant Treasurer Stuart Robert said the review would examine the TPB's effectiveness in ensuring tax agent services are provided to the public "in accordance with appropriate standards of professional and ethical conduct."

The review will specifically consider the role of the TPB's legislative and governance framework, and would also give the Government the opportunity to "address issues" arising from the Black Economy Taskforce's final report.

Former deputy chair of the Board of Taxation, Keith James will chair the review.

James' leadership in the tax profession extend to his roles as chair of the Taxation Centre of Excellence and the National Tax Advisory Committee for CPA Australia, and Robert pointed to his decades of legal and tax experience.

James currently serves as a consultant at Hall & Wilcox, and previously was a partner at KPMG.

Submissions in response to the review's terms of reference are due by April 12, with the review set to report to Government by September 30.

Earlier this week, Robert announced the Government would consult on a suite of changes to Australia's superannuation legislation.

The changes would amend various pension related aspects of super legislation, including the way market-linked pensions are valued under the transfer balance when they are commuted or rolled over.

Read more: TPBFederal GovernmentTax Practitioners BoardKeith JamesStuart RobertCPA AustraliaBoard of TaxationKPMGTaxation Centre of ExcellenceWilcox
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