In February last year, the TPB released a public discussion paper that reviewed its CPE policy requirements.
One of the key changes, supported by the initial feedback, was the increase in the minimum number of CPE hours to 120 hours over three years for all registered tax practitioners.
Other proposed changes put forward include the ability for tax practitioners to elect either a calendar or financial year basis for their three-year CPE period and to include an amount of educative health and wellbeing activities to count towards their CPE, all of which is aimed at providing greater flexibility.
TPB chair Ian Klug said most tax practitioners provide excellent service to their clients, and CPE is critical to maintaining skills and competence.
“The TPB recognises the increasingly complex environment that businesses operate in and constant changes to taxation laws. The scope of services provided by tax practitioners has also expanded over time,” Mr Klug said.
“The proposed CPE standard of 120 hours over three years equates to less than an hour per week. This proposal also aligns with the standard of some other professions and matches the requirements of some professional associations.
“Ongoing education enhances the integrity of the tax profession, better supports client needs, and builds community confidence in the tax system. We welcome feedback from practitioners, their associations and any other interested parties that can assist the TPB in setting the right CPE standards.”
The TPB said it will consider all feedback received before finalising its position and provide appropriate transitional arrangements to help tax practitioners to comply when changes are implemented.
The consultation is open until 11 March 2021. Written submissions can be sent via email to tpbsubmissions@tpb.gov.au.
