Regulations and Determinations — Tax Agent Services (Code of Professional Conduct) Determination 2024

Dean Smith

I move:

That the Tax Agent Services (Code of Professional Conduct) Determination 2024, made under the Tax Agent Services Act 2009, be disallowed [F2024L00849].

Anthony Chisholm

I seek leave to make a short statement.

Sue Lines

Leave is granted for one minute.

Anthony Chisholm

The government would like to thank the tax industry bodies for their constructive engagement with us on this matter. The government have committed to industry bodies to making further changes to the tax determination, on which we intend to publicly consult and which we intend to finalise by early October. This includes outlining the obligations within section 15 of the instrument of the Accounting Professional and Ethical Standards Board code of ethics. This voluntary code currently applies to only some tax agents. The change will expand it to all tax agents in a consistent way.

The government has also committed to reduce the number of items in the disclosure obligations to section 45 to remove duplicative items that are already covered in other areas of law. Industry bodies have indicated support for these changes.

I seek the opposition's commitment to delay this motion to provide industry with time to consider these amendments as part of public consultation. Absent that commitment, the government will be opposing this disallowance motion.

David Pocock

I seek leave to make a one-minute statement.

Leave granted.

I thank Senator Smith for lodging this disallowance, and I share the concerns that industry reps have raised around the poor process and consultation. However, I also recognise that there has recently been good-faith engagement from the government, and they've come to an agreement with industry bodies to work through the remaining outstanding issues. I believe the government should have the opportunity to deliver on this. Should they not, I'd be very happy to support a disallowance, but at this stage I won't be.

Dean Smith

I seek leave to make a short statement.

Leave not granted.

Barbara Pocock

I seek leave to make a short statement.

Sue Lines

Leave is granted for one minute.

Barbara Pocock

I wish to put on notice the pressing need for action to hold tax agents to account in light of all the evidence this chamber has heard in relation to PwC and the need to act. We've had a lot of outrage in this chamber about what our nation has seen in corrupt behaviour, and what we need is action into the future, not deferral. We need timely action that allows us to hold the small proportion of tax agents who behave improperly to account. That's the action I look forward to seeing this Senate realise before long.

Dean Smith

I seek, for a second time, leave to make a statement.

Sue Lines

Leave is not granted. And I do invite senators who have pressing things to say to join the adjournment debate tonight, at which point I'm sure the whips will not welcome it. But that is the appropriate time.

Dean Smith

But no-one listens to the adjournment debate!

Sue Lines

Well, you can always put it on your socials. What a shame! I listen. The question is that business of the Senate motion No. 1 standing in the name of Senator Dean Smith be agreed to.