TPB releases its 2023–24 Corporate Plan
The Tax Practitioner Board (TPB) has released its 2023–24 Corporate Plan. It outlines the TPB’s key activities and the performance measures we will apply as we continue to deliver on our purpose, supporting public trust and confidence in the integrity of the tax profession and the tax system. The TPB said its focus will be in two areas: support for tax practitioners and ensuring the integrity of the tax system.
Injunction granted to prevent overseas persons from preparing tax returns
The Federal Court has granted the application of the Tax Practitioner Board (TPB) for an interlocutory injunction to prevent two persons who were located overseas from preparing and/or lodging any income tax return for a taxpayer, for a fee or other reward, whilst not a registered tax agent within the meaning of the Tax Agent Services Act 2009. The TPB claimed that the persons contravened s 50-5(1) of the TAS Act by providing tax agent services, including the preparation and lodgment of income tax returns for Australian taxpayers for a fee or other reward, whilst not a registered tax agent within the meaning of the TAS Act. The application was granted until the substantive matter was determined at trial, including the issue of the extent to which the TAS Act has extraterritorial operation. (Tax Practitioners Board v Buckland (Interim Injunction) [2023] FCA 836, 25 July 2023)
ATO information for foreign investors
The ATO has released information for foreign investors on how to manage registrations and obligations for your investments in Australia. It contains information on a range of matters, including: how foreign investors can apply to invest in Australia and register their investment with the ATO; the various online services available for foreign investors; how to authorise a representative to access Online services for foreign investors on your behalf; how to manage your personal details and authorised contacts in Online services for foreign investors; and instructions for foreign investors to lodge, pay or vary a residential application to purchase property in Australia.
ATO: First Home Super Saver scheme data
The ATO has released data from the first home super saver (FHSS) scheme since its commencement in July 2018. It includes information on the following matters: usage of the FHSS scheme; FHSS age demographics; FHSS location demographics; FHSS income demographics; and average FHSS processing time.
