The Tax Practitioners Board (TPB) has stepped up its support of tax practitioners by extending continued professional education (CPE) (private reading and activities) concessions to 31 December 2020; renewal concession to 30 June 2021; and relevant experience concession to 30 June 2021.
TPB chair Ian Klug said the concessions reflect the board’s commitment to assisting tax practitioners who are experiencing a range of changed business circumstances during this time.Â
“Given the COVID-19 related challenges during the year, we have been swift to relax regulatory requirements, including annual declarations, registrations and CPE requirements,” Mr 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.”
Mr Klug explained that while some tax practitioners 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 wellbeing is our number one priority.
“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,” Mr Klug said.Â
Resources highlighting support for tax practitioners during COVID-19 are available here.
More information on the impact of the concessions on tax practitioners is available here.
