Budget approves higher TPB fees

The Federal Government has provided additional funding to the Tax Practitioners Board (TPB) in a move aimed at protecting consumers.

The move, entailing ongoing additional funding, has been welcomed by the chairman of the TPB, Ian Taylor who said it would ensure the board was able to continue to meet its legislative responsibilities.

The Government said the additional funding would be offset by an increase in application fees for tax practitioners.

The TPB said the increase across all tax practitioner application fee types better reflected the TPB’s costs to register tax practitioners and applied to those entities that used the TPB’s services.

The fee changes will see tax agents paying a registration fee of $675, while financial planners pay $540 and BAS agents pay $135.

The new fees are subject to regulatory approval but are intended to become effective from 1 July, 2018.




What services? My TPB service is nil. talk about fees for no service. A Royal Commission would have fun with the TPB.

This is spot on Robin, I hope the TPB enjoys charging people fees for no service, as one day, they may need to refund it all!

Dear TJ, First rule of government (I learned this from the BBC "Yes Minister" show) never volunteer a review of your own government dept.

The TPB can't even issue an tax invoice for accounting purposes because the fee paid goes direct to the ATO. Sp many Levies have crept into every business operation over the last few years. I'd rather a levy cut then a tax cut. Even super investors are paying a Super stream levy. Another con is the financial adviser register levy. There was already a register on ASIC website and the only people who check it are financial advisers themselves. Probably Sam Henderson has had 10,000 hits this month alone I reckon.

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