For many years now the accounting and tax professional bodies represented in this letter have been working with the Australian Taxation Office on a project known as the National Review of Tax Agent Standards. The purpose of the review was to consider legislative changes in the public interest that were necessary in the wake of the movement of our income tax regime to one based on self-assessment principles.
The outcome of that process was the preparation of a consultative document intended for release to the public for comment and review. We understand that the Commissioner of Taxation forwarded the consultative document to Treasury in November 2002 with a request that the proposals be progressed to the Government.
There is bi-partisan support from all external participants for the release of the current document as a consultative document. We also believe there is significant downside in further delays on this process which commenced about 12 years ago.