Tax Agent Services (Tax Practitioners Board Member and Chair) Appointment (No. 1) 2023

Overview

The Tax Agent Services (Tax Practitioners Board Member and Chair) Appointment (No. 1) 2023 is a notifiable instrument issued under the Tax Agent Services Act 2009. Enacted by Stephen Jones, the Assistant Treasurer and Minister for Financial Services, this instrument aims to fill a specific governance gap within the Tax Practitioners Board by reappointing Peter de Cure AM as a member and subsequently as the Chair of the Board. The purpose of this appointment is to ensure continued effective oversight and administration of the Tax Agent Services Act 2009 by maintaining experienced leadership within the Board. This legislative instrument underscores the commitment to upholding the standards and integrity of the tax practitioner sector in Australia.

Scope and Application

The Tax Agent Services (Tax Practitioners Board Member and Chair) Appointment (No. 1) 2023 Instrument appoints Peter de Cure AM both as a member and as the Chair of the Tax Practitioners Board, under the Tax Agent Services Act 2009. This legislation applies to the individual appointed, Peter de Cure AM, and to the entities and roles within the Tax Practitioners Board. The geographic reach of this Act is federal, as it is enacted under the Commonwealth of Australia, impacting the regulation of tax agent services across the country. The Act does not explicitly state exclusions, exemptions, or thresholds, but it is inherently bound by the provisions and scope of the overarching Tax Agent Services Act 2009. The application and interpretation of this Act may be further extended or restricted through subordinate instruments issued under the authority of the Act, ensuring compliance and proper governance within the tax practitioner sector.

Key Provisions

The Tax Agent Services (Tax Practitioners Board Member and Chair) Appointment (No. 1) 2023 (the Instrument) primarily concerns the reappointment of Peter de Cure AM to two significant roles within the Tax Practitioners Board (TPB). Under section 1(a) of the Instrument, Peter de Cure AM is reappointed as a member of the TPB on a part-time basis, effective from 22 October 2023 until 28 May 2026. Additionally, section 1(b) of the Instrument extends his appointment as the Chair of the TPB on a part-time basis, beginning on 29 May 2023 and ending on 28 May 2026. These appointments are made under the authority granted by subsections 60-25(1) and (2) of the Tax Agent Services Act 2009. The obligations and requirements imposed by the Instrument on Peter de Cure AM and the TPB include adherence to the terms of his part-time appointment and the responsibilities associated with his dual roles as a member and Chair. As a member and Chair, Peter de Cure AM is expected to fulfil duties such as ensuring the effective and efficient administration of the TPB, participating in decision-making processes, and upholding the integrity and standards of the tax profession. These roles necessitate a commitment to the regulatory functions of the TPB, including monitoring and enforcing compliance with professional standards, handling complaints, and facilitating continuous professional development for registered tax practitioners. In terms of potential consequences for breach of any obligations under the Instrument, the legislation does not explicitly detail specific offences, penalties, or consequences. However, given the nature of the TPB's responsibilities, any significant dereliction of duty or misconduct by Peter de Cure AM could lead to disciplinary actions, including possible removal from office. Such actions would be overseen by the relevant authorities under the Tax Agent Services Act 2009, which governs the TPB's operations. While the Instrument does not specify maximum penalties, breaches of duty or misconduct could result in severe professional repercussions and damage to reputation, potentially impacting his future appointments and professional standing within the tax and financial sectors.