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Government urged to exempt small firms from TPB reforms
The lower risk profile of small practices means they should not face the same scrutiny as larger ones, the NTAA says.
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Small firms should be exempted from the government’s proposed TPB registration requirements as their lower risk profiles do not warrant the additional oversight, the National Tax & Accountants’ Association (NTAA) says.
Treasury’s proposal would allow the board to reject or terminate registrations of companies and partnerships based on more stringent criteria including their compliance with governance requirements.
But the NTAA was concerned the proposed change was “too broad in its application”.
“It is evident that the Treasury has reduced the scope of this proposed change to exclude individual tax agents. However, this exclusion does not go far enough,” it said in a recent submission to Treasury.
“The NTAA suggests reducing the scope of the proposed change to exclude small firms.”
“The lower risk level generally associated with smaller firms that operate as companies and partnerships does not warrant additional TPB oversight at the time of registration.”
It said the additional oversight of small firms was an unnecessary burden and provided no benefit to consumers.
But these concerns did not apply to large multidisciplinary firms that had a higher risk of encountering complex practice issues and ethical dilemmas.
“It is clear that the proposed change is intended to target large multidisciplinary firms. The NTAA is fully supportive of a reform that provides additional oversight of such firms,” it said.
“The proposed change would provide a safeguard of sorts to consumers, as it provides a level of comfort that registered companies and partnerships have appropriate controls in place.”
The NTAA said obligations imposed under the tax agent code of conduct would be adequate to deal with smaller firms, with a recent ministerial determination mandating a quality management system at the time of registration.
“The consultation paper proposes a change that would overlay an additional requirement that must be satisfied for certain types of firms to register as a tax agent,” it said.
It also echoed concerns of other professional bodies that having the stringent new criteria as a registration requirement raised procedural fairness concerns.
“Having the quality management system as a registration requirement rather than an ethical standard means that the TPB can decline a registration application by a prospective agent without having to do any real investigation, which would be required under an ethical standards breach,” it said.
“This does not provide the applicant with a fair and just outcome.”
Christine Chen
21 August 2024
accountantsdaily
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Chris Wybenga
B.Bus, CA
Chris is the Managing Director of the Firm who established the practice in August 1994 and has been responsible for its growth and development since that time.
Chris has over 40-years experience in the Chartered Accountancy profession, predominantly spent in small to medium sized firms, advising both small business and individuals in areas such as taxation and accounting as well as business restructuring and superannuation advice.
Chris is active in the development of young accountants both in mentoring cadets at the Firm and lecturing in taxation for the CA Program for the Institute of Chartered Accountants & New Zealand.
- 1980 – Commenced employment and part time university studies
- 1985 – Graduated Bachelor of Business from University of Technology, Sydney
- 1986 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1988 – Registered as a Registered Company Auditor
- 1994 – Established Wybenga & Partners (formerly known as Farrar & Wybenga)
Dianne Bechara
B.Bus, CA
Dianne is responsible for the day-to-day operations and administration of the practice.
Dianne has over 30-years Chartered Accountancy experience and has significant expertise in providing advice and solutions to high-net-worth individuals and their associated entities. Dianne also has considerable knowledge in the areas of taxation, business services, superannuation, and compliance.
Dianne is active in promoting gender equality in the industry through various programs and mentoring opportunities. Dianne is also committed to the development of young accountants and donates considerable time to sharing her expertise.
- 1992 – Graduated Bachelor of Business from University of Technology, Sydney
- 1993 – Commenced employment in acounting profession
- 1996 – Commenced career with Wybenga & Partners
- 1997 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2002 – Appointed as Director of Wybenga & Partners
Roger Potter
B.Bus, CA
Roger is responsible for the HR aspect of the Firm, cultivating the culture, and maintaining the highly social environment we pride ourselves on.
Roger has over 35-years in the Chartered Accountancy profession and significant expertise in providing advice and solutions to small businesses and high-net-worth individuals. He also has extensive experience in the areas of Self-Managed Superannuation Funds and retirement strategies.
Roger is active in the development of young accountants both in mentoring cadets at the firm and lecturing in taxation for the CA Program for the Institute of Chartered Accountants & New Zealand.
- 1985 – Commenced employment and part time university studies
- 1990 – Graduated Bachelor of Business from University of Technology, Sydney
- 1992 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 1998 – Commenced career with Wybenga & Partners
- 2002 – Appointed as Director of Wybenga & Partners
Tess Uncle
B.Sc, M.Com, CA
Tess has over 22-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Tess has had significant experience in MYOB and assisting clients in day-to-day bookkeeping activities and periodic reporting.
Tess is responsible for the Firm’s training and development needs.
Tess is active in promoting gender equality in the industry through various programs and mentoring opportunities. Tess is also committed to the development of young accountants and donates considerable time to sharing her expertise.
- 2001 – Commenced employment with Wybenga & Partners and part-time accountancy studies
- 2004 – Graduated Masters of Commerce from the University of New South Wales
- 2005 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2007 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2016 – Appointed as Director of Wybenga & Partners
Schedule a Meeting with Tess
Adam Roberts
B.Bus, B.Sc, CA
Adam has over 18-years experience in Chartered Firms and in this time has had a broad range of experience in superannuation, taxation, and business services. In particular, Adam has had significant experience in MYOB and assisting clients with periodic management reporting.
Adam is responsible for the implementation of technology in the Firm and sourcing new areas of innovation and efficiency.
Adam is active in the development of young accountants and donates considerable time to sharing his expertise.
- 2005 – Commenced employment with Wybenga & Partners and part-time Accountancy Studies
- 2005 – Graduated Bachelor of Science from the University of Western Sydney
- 2007 – Graduated Bachelor of Business from the University of Western Sydney
- 2010 – Admitted as an Associate Member of the Institute of Chartered Accountants Australia & New Zealand
- 2010 – Promoted to Manager at Wybenga & Partners
- 2012 – Appointed as Associate Director
- 2016 – Appointed as Director of Wybenga & Partners