Australia Plans New Laws to Crack Down on Tax Adviser Misconduct
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Australia’s government will legislate “the biggest crackdown on tax adviser misconduct” in the nation’s history, including boosting some monetary penalties 100—fold, Treasurer Jim Chalmers said Sunday.
The measures will give watchdogs stronger powers to investigate and prosecute perpetrators, and boost transparency including by giving more protection for whistleblowers, Chalmers said in a statement. The legislation will be introduced this year, with consultation on reforms starting “shortly,” he said.