Australia Proposes New Penalty Regime for Tax Adviser Misconduct

Australia’s Tax Practitioners Board stands to gain the power to impose steep civil penalties on firms and partners under a new sanctions regime inspired by the PwC tax leak scandal.

The proposal, introduced Monday by the Australian Treasury, would also define new criminal offenses for tax agent fraud. The bill builds on the government’s 2023 pledge to legislate “the biggest crackdown on tax adviser misconduct” in the nation’s history, a reaction to the political firestorm that followed revelations that PwC had leaked government tax plans.

The tax board would gain the power to hold partners liable for the wrongdoing ...