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The board terminated their credentials and prohibited them from being re-registered for up to three years.
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TPB bans two tax agents for over $1.5m in unpaid debts
14 February 2023
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9 minute read
The TPB has terminated the credentials of two tax agents and banned them from being re-registered for up to three years after they failed to meet their personal tax obligations, including over $1.5 million in unpaid debts.
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One agent had neglected $1.5 million in tax debt without a payment arrangement with the ATO and had a number of outstanding personal returns and BAS over four years.
The agent was found to have made a false and misleading statement to the TPB by failing to disclose the outstanding tax obligations in a renewal application.
Further investigations also found the agent had reported wrong income, tax losses and credits for a related entity, which resulted in significant tax shortfalls and penalties imposed by the ATO following an audit, with the agent also failing to respond to a formal notice for information by the ATO.
The TPB’s Board Conduct Committee (BCC) determined the tax agent was not a fit and proper person to be registered due to conduct which:
- Breached the code of professional conduct
- Showed disregard for the TPB by failing to respond to requests for information and declarations of no tax obligations
- Demonstrated non-compliance with taxation laws through significant outstanding tax obligations
- Exhibited recklessness and failure to uphold the integrity of the tax system by recording or reporting income and credits incorrectly
- Showed disregard for the ATO by failing to comply with a formal ATO notice
The board banned the tax agent from reapplying for registration for three years.
The second tax agent was banned due to a failure to meet obligations and enter into an approved payment arrangement with the ATO regarding personal tax debt.
The board said the tax agent had been given an order in 2021 to enter into an approved payment arrangement with the ATO and provide evidence of any commencement, default or cancellation of the payment plan.
The agent failed to comply with the order or address the tax obligations.
As a result, the BCC deemed the tax agent ceased to be a fit and proper person to remain registered.
The TPB terminated the tax agent’s registration and prohibited the agent from reapplying for two years.
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