CANBERRA, ACT, July 2 -- The Treasurer of Australia issued the following media release:
The Albanese Government is legislating tougher sanctions in response to misconduct by tax advisors.
This is all about making our taxation system stronger, driving better behaviour and deterring misconduct.
We're introducing a stronger sanctions framework including criminal penalties for unregistered tax preparers, new civil penalties for breaches of the Code of Professional Conduct, and increased penalty amounts.
We're doubling the maximum duration of termination of registration to 10 years and giving the Tax Practitioners Board new powers to issue infringement notice penalties, enter into enforceable voluntary undertakings and impose contingent and ...