Treasury Laws Amendment (2023 Measures No. 1) Act 2023 (101 of 2023)

Schedule 3   Government response to the Review of the Tax Practitioners Board

Part 5   The Code of Professional Conduct

Tax Agent Services Act 2009

27   Subsection 90-1(1)

Insert:

significant breach of the Code means a breach of the *Code of Professional Conduct by a *registered tax agent or BAS agent if the breach:

(a) constitutes an indictable offence, or an offence involving dishonesty, under an *Australian law; or

(b) results, or is likely to result, in material loss or damage to another entity (including the Commonwealth); or

(c) is otherwise significant, including taking into account any one or more of the following:

(i) the number or frequency of similar breaches by the agent;

(ii) the impact of the breach on the agent's ability to provide *tax agent services;

(iii) the extent to which the breach indicates that the agent's arrangements to ensure compliance with the Code are inadequate; or

(d) is a breach of a kind prescribed by the regulations for the purposes of this paragraph.