Media Releases
View what we have to say about topics of interest to our members and the accounting profession.
If you have any queries about the topic of interest, please contact us at [email protected].
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Advocacy Update: Amendments to Tax Agent Services (Code of Professional Conduct) Determination 2024 Tabled for Comments
There has been significant advocacy work by the profession since the Tax Agent Services (Code of Professional Conduct) Determination 2024 was registered on 2 July 2024, which has resulted in amendments to the determination. Assistant Treasurer Stephen Jones released the amendments to the determination yesterday for public consultation, and submissions are due by 2 October 2024.
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Institute of Public Accountants welcomes Commonwealth Government climate reporting legislation
The Treasury Laws Amendment (Financial Market Infrastructure and Other Measures) Bill 2024 that provides more certainty for climate reporting received Royal Assent on 17 September 2024. The new legislation provides more certainty by establishing when the climate statements should be prepared, how they should be prepared, and which entities should prepare them.
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JOINT BODIES REMAIN CONCERNED ABOUT NEW TAX AGENT OBLIGATIONS AFTER ROUNDTABLE
The professional bodies representing Australia’s tax and BAS agents met with the Assistant Treasurer’s office and Treasury today to discuss our ongoing concerns regarding the Tax Agent Services (Code of Professional Conduct) Determination 2024. The Assistant Treasurer’s office and Treasury acknowledged our concerns with sections 15 and 45 of the Determination and we are pleased they are open to making the necessary changes to address them. However, there is still considerable work to be done and further consultation required.
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Advocacy Update - TASA Code of Professional Obligations
On 15 July 2024, the Joint Bodies submitted an open letter to Assistant Treasurer Stephen Jones for the removal of the Tax Agent Services (Code of Professional Conduct) Determination 2024, advocating for further consultation and consideration of various concerns raised in the letter. We have now received a response from the Assistant Treasurer a copy of the full letter can be found below.
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New study finds billions of Australian taxpayer dollars wasted on ineffective federal government business grants
A new study from the IPA-Deakin SME Research Centre has found that more than 30% of nearly $4.2 billion in Australian Commonwealth business grants awarded between 2018 and 2022 have failed to generate any significant business or economic benefits, wasting billions of Australian taxpayer dollars.
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Tax Agent Services (Code of Professional Conduct) Determination 2024 Statement
Tax Agent Services (Code of Professional Conduct) Determination 2024 Statement
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2024-25 Australian Federal Budget: Chalmers fails to charm small business owners
You might need a doctorate to write the 2024-25 Australian Federal Budget, but you don’t need a crystal ball to read Australia’s future. The Government’s Budget centrepiece, Future Made in Australia does not appear to have any focus on small and medium sized businesses. It’s important that small businesses are part of Australia’s future, but if they don’t get the support they need, they are at risk of being left in the past.
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MEDIA STATEMENT FROM THE JOINT ASSOCIATIONS WORKING GROUP
Joint associations working group (JAWG) pushes for more flexible education standard for new entrants and career changers
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STILL TIME TO FIX ADVICE REFORMS SO “HOT MESS” DOESN’T TURN INTO DISASTER
The Joint Association Working Group (JAWG) is calling on the Government to move swiftly to fix legislation introduced into the Parliament so that it doesn’t make advice more unaffordable and less accessible for consumers.
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New study finds billions of Australian taxpayer dollars have been taken for granted
A new study from the IPA-Deakin SME Research Centre found that the overwhelming majority of Commonwealth Government grants awarded to businesses between 2018-2022 were non-competitive, and that only 17% of the $3 billion in business grants awarded over the five-year period were competitive.