ACC80012: Taxation Principles and Planning - Accounting and Finance Assignment Help

Assignment Task:

Task:

Tax Practitioners Board v Campbell [2012] FCA 1153

On 30th August 2012 the Federal Court found that the respondent on 18 occasions had contravened s.50-50(1) of the Tax Agent Services Act 2009 by knowingly providing a tax agent service for a fee while not being a registered tax agent. The Court imposed a penalty of $64,500, in addition to the Tax Practitioners Board’s costs. An injunction for a period of three years was also imposed in relation to providing tax agent services. The Chair of the Tax Practitioners Board (TPB), Dale Boucher, made the following statements:

“… this decision sends a clear and unmistakable message that to do tax work for a fee, you must be registered with the TPB … The court’s findings reinforce the important role of the TPB in protecting consumers from unregistered tax and BAS agents.”

REQUIRED:

You are required to provide a research report on the regulation of tax agent services in Australia. In particular, investigate the role and effectiveness of the Tax Practitioners Board (TPB) on the tax agent services industry. Among the various issues discussed in your report, you should at a
minimum, address the following:

1. The reason the Tax Agent Services Act 2009 (TASA) was enacted
2. What a tax agent service is.
3. Which professions are affected.
4. How the Code of Professional Conduct influences the regulation of tax agent services.
5. Which, in your opinion, is the most important obligation under the Code.

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