On Tuesday 23 April, we contributed a submission to the Tax Practitioners Board (TPB) review on behalf of the software industry, and in particular, software developers.
Prior to commencing this submission, ABSIA Board Members Karen Lay-Brew and Matthew Prouse attended roundtable review sessions. Taking into light the recent recommendations and statements made the by Inspector General of Taxation of their 'The Future of the Tax Profession' report, we felt as though there were particular areas of concern that ABSIA should address.
In our submission we identified the following the recommendations:
- The TPB should be 'future-focused' and show a greater understanding of how the tax industry is expected to change in the coming years. This include providing relevant guidance for additional skills development and specific training as the tax profession evolves with new technology capabilities.
- The TPB needs to regulate the conduct of tax practitioners and should not attempt to impose regulations on the software industry.
- The TPB should seek to better understand the ATO's digital vision.
- The TPB's register should be included in the Modernising Business Registers program.
- The TPB should include at least one board member with a technology-based background and an understanding of ATO's Digital Agenda to aid in driving the effectiveness of the tax industry and the future of the tax professionals.
- The TPB should seek to work more closely with relevant industry organisations and associations, such as ABSIA, to understand the future of the industry from different perspectives.
The full submission can be accessed here.
As an industry, we look forward to the release of the Discussion Paper and the outcomes of the review. A second Discussion Paper was released on 1 August 2019, this can be accessed here.