WHY is CPE Required? To maintain your knowledge and skills...
Practitioners who are registered with the Tax Practitioners Board must complete CPE in order to comply with their Code of Professional Conduct obligations imposed by TASA 2009.
CPE is the process of maintaining and improving a professional’s knowledge and skills on a regular basis. CPE ensures registered practitioners maintain and enhance their primary qualifications, adapt and develop as the industry, laws, society and their individual practice changes.
The Code consists of 14 core principles which are grouped into 5 broad categories.
Why is CPE required?
CPE has been introduced under the Tax Agent Service regime to ensure agents registered with the TPB remain informed on current developments in the dynamic financial services industry and maintain a high level of professional knowledge and the appropriate skills to competently deliver the services they are registered to perform.
What is CPE?
CPE is defined by the TPB as “any education activity relevant to the tax (financial) advice, tax agent or BAS services you provide that maintains, develops or promotes your skills, knowledge or attributes, is considered to be a continuing professional education (CPE) activity under the CPE policy.”
If you are a member of a recognised professional association then your compliance with the association’s CPE requirements may be accepted as meeting the TPB’s CPE requirements.
Agents (Practitioners) who are registered with the Tax Practitioners Board must complete CPE in order to comply with their obligations under TASA 2009 including the Code of Professional Conduct. Complying with your CPE requirements will assist you to maintain knowledge and skills relevant to the BAS services you provide.
CPE activities considered appropriate under the Tax Practitioners Boards’ policy include:
CPE hours for BAS agents
You should complete a minimum of 90 hours of CPE* within a standard three year registration period, with a minimum of 20 hours* each year to meet TPB requirements. Most associates require 15 per annum (* from 1 July 2022).
Association CPE requirements
If you are a member of a recognised professional association then your compliance with the association’s CPE requirements will be generally be accepted as meeting the TPB’s CPE requirements.
Tips for CPE
A course that has been completed to obtain registration or renew registration will not generally constitute a CPE activity. No more than 25 per cent of CPE should be undertaken through relevant technical or professional reading.
Recording CPE activities
You must keep a record of your CPE activities as the TPB or your Association may request you to provide evidence of CPE that you have completed at any time throughout your registration period.