Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026

Senator AYRES (New South Wales—Minister for Industry and Innovation and Minister for Science) (18:18): There has been extensive consultation and engagement with stakeholders and the sector throughout the development of this schedule. Schedule 1 of the bill enhances the Tax Practitioners Board's sanctions regime with a stronger penalties framework for registered tax practitioners.

But referring this bill would cause further delays to much needed reforms that will more effectively penalise and deter inappropriate conduct by tax practitioners. Schedules 2 and 3 are due to commence on 1 October, so the delay that the coalition are proposing would have substantial revenue impacts. It's on that basis that we're proceeding in the way that we are.