Treasury Laws Amendment (Tax Accountability and Fairness) Act 2024 (37 of 2024)

Schedule 3   PwC response - Tax Practitioners Board reform

Part 2   Investigations by the Board

Division 1   Period for making decisions

Tax Agent Services Act 2009

4   Application provisions

(1) The amendment made by this Division applies in relation to an investigation into conduct under section 60-95 of the Tax Agent Services Act 2009 if the investigation commences on or after the commencement of this Division.

(2) The amendment made by this Division also applies in relation to an investigation into conduct under section 60-95 of the Tax Agent Services Act 2009 if:

(a) the investigation commenced before the commencement of this Division; and

(b) immediately before the commencement of this Division, the Board had not, in relation to the investigation:

(i) made a decision under subsection 60-125(2) of the Tax Agent Services Act 2009; or

(ii) been taken to have made such a decision; and

(c) immediately before the commencement of this Division:

(i) the Board had not, in relation to the investigation, determined a period under subsection 60-125(4) of the Tax Agent Services Act 2009; or

(ii) the Board had, in relation to the investigation, determined a period of less than 24 months under subsection 60-125(4) of that Act.

(3) If the amendment made by this Division applies in relation to an investigation because of subitem (2), and subparagraph (2)(c)(ii) of this item applies, then for the purposes of the Tax Agent Services Act 2009 as it applies on and after the commencement of this Division:

(a) the determination referred to in subparagraph (2)(c)(ii) of this item is to be disregarded; and

(b) the Board must not, in relation to the investigation, make any further determination under subsection 60-125(4) of the Tax Agent Services Act 2009.