Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026: what it would change and who it affects

The short answer

Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026: what it would change and who it affects

The Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026 is a government bill introduced in the House of Representatives on 2 July 2026 under the Treasury portfolio. According to the official summary on the Parliament of Australia bill page, the bill would expand the Tax Practitioners Board's regulatory penalty powers under the Tax Agent Services Act 2009; amend the foreign resident capital gains tax (CGT) regime, including by introducing a definition of 'real property'; provide a transitional 50 per cent CGT discount for certain foreign residents who dispose of Australian renewable energy assets; amend the operation of the mandatory and suspensory merger control regime; give effect to the National Competition Principles; update the list of deductible gift recipients; rename public and private ancillary funds as public and private giving funds; and make minor and technical amendments. As of 5 August 2026, the bill remains before the House of Representatives and has not yet been debated.

This is a federal system guide. State constitutions, parliaments and local-government laws can allocate comparable functions differently.

The useful question is not only “what is the rule?” but also “who administers it, which document controls it, and when might it change?” That distinction prevents an accurate general explanation from becoming wrong advice in a particular election, chamber or policy setting.

Evidence review

What the bill is about

The Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026 is a government bill sponsored by the Treasury portfolio. As its title suggests, the primary focus is on strengthening the accountability framework for tax advisers who engage in misconduct. The bill would amend existing Treasury laws to give regulators enhanced powers to investigate, sanction and deter misconduct by tax professionals, alongside a range of other tax and competition measures.

The bill was introduced in the House of Representatives on 2 July 2026, during the 48th Parliament. The second reading was moved on the same day by Daniel Mulino MP (ALP), marking the bill's entry into parliamentary consideration. As at 5 August 2026, the bill remains at the 'Before Reps' stage — meaning it has been read a first time and the second reading has been moved, but substantive debate is yet to occur.

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How the bill would change the current framework

According to the official summary published on the Parliament of Australia bill page, the bill would make changes across several Acts. It would expand the Tax Practitioners Board's regulatory penalty powers under the Tax Agent Services Act 2009, strengthening the accountability mechanisms that apply to tax advisers. It would also amend the Income Tax Assessment Act 1997, the International Tax Agreements Act 1953 and the Taxation Administration Act 1953 to change the foreign resident capital gains tax (CGT) regime, including by clarifying and broadening the foreign resident CGT tax base through a new definition of 'real property'.

The bill would amend the Income Tax (Transitional Provisions) Act 1997 to provide a transitional 50 per cent CGT discount for certain foreign residents who dispose of Australian renewable energy assets. It would amend the Competition and Consumer Act 2010 to change the operation of the mandatory and suspensory merger control regime, and would amend the Competition and Consumer Act 2010 and the Productivity Commission Act 1998 to give effect to the National Competition Principles as contained in the 2024 NCP Agreement.

Other measures would update the list of deductible gift recipients under the Income Tax Assessment Act 1997; rename public and private ancillary funds as public and private giving funds under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, the Income Tax Assessment Act 1997 and the Taxation Administration Act 1953; and make minor and technical amendments to the Taxation Administration Act 1953. The bill would also repeal the Taxation Administration (Remedial Power - Foreign Resident Capital Gains Withholding) Determination 2017.

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Who would be affected

The bill would directly affect registered tax agents, BAS agents, and tax (financial) advisers — collectively known as tax practitioners — who provide services to Australian taxpayers. If enacted, tax advisers found to have engaged in misconduct could face strengthened sanctions or expanded regulatory scrutiny.

Indirectly, the bill would also affect the Tax Practitioners Board, which is the primary regulator responsible for enforcing the accountability measures in the bill. The Australian Taxation Office may also see changes to its administrative arrangements as a result of the tax administration amendments. Foreign residents who dispose of Australian real property or renewable energy assets would be affected by the CGT changes, and businesses would be affected by the amendments to the merger control regime and the National Competition Principles.

Australian taxpayers who rely on tax advisers would be the ultimate beneficiaries of stronger accountability measures, as the bill aims to improve the integrity of the tax advice system.

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Progress through Parliament

The bill was introduced and read a first time in the House of Representatives on 2 July 2026. The second reading was moved on the same day, with the Minister's second reading speech being the first formal parliamentary statement on the bill's purpose. At this stage no other members or senators have spoken on the bill, and no proposed amendments have been circulated.

For the bill to become law, it must pass through the following stages: second reading debate and vote in the House of Representatives, consideration in detail (where amendments may be proposed), third reading in the House, introduction and passage through the Senate, and finally Royal Assent by the Governor-General.

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What happens next

The next step for the bill is second reading debate in the House of Representatives. During this stage, members will have the opportunity to speak for or against the bill. Given the bill was introduced in the final sitting weeks before the winter recess, debate may resume when Parliament returns.

The bill's explanatory memorandum provides the detailed explanation of each provision. Interested parties — including tax professional bodies, consumer groups, and the opposition — would typically review this document to form their positions ahead of debate.

Evidence review

Context: recent scrutiny of tax adviser conduct

This bill arrives against a backdrop of heightened scrutiny of tax adviser conduct in Australia. The PwC tax leaks scandal and subsequent Senate inquiries have exposed significant issues in the regulation of tax professionals, particularly around conflicts of interest and the misuse of confidential government information. In response, the government announced a suite of reforms aimed at strengthening the integrity of the tax system, of which this bill appears to be one component.

The bill's introduction also coincides with broader government efforts to rebuild trust in Australia's tax system, including separate legislative packages addressing tax agent registration requirements and reforming the Tax Practitioners Board.

Evidence review

Chamber record cross-check — 2 July 2026

The House of Representatives Live Minutes record for 2026-07-02 lists Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026. That listing is evidence of chamber activity on the sitting day, but it is not by itself evidence that the bill passed both houses, received Royal Assent or commenced. The linked bill record and the later settled parliamentary record control the current stage. For Treasury Laws Amendment (Strengthening Accountability for Tax Adviser Misconduct and Other Measures) Bill 2026, readers should distinguish listing, debate, passage, assent and commencement as separate events, and use the cited bill history and explanatory material to check each step.

Common questions

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