The Little CFO® reposted this
⚠ Reminder for all tax agents: Staying on top of your ATO debts and lodgements is crucial. If you fall behind, act quickly and seek advice immediately. In this recent case: 🔸 The obligations in the Code* considered by the AAT included to have one’s own tax obligations in order.^ The AAT also considered that a tax agent’s conduct of his, her or its own taxation affairs is also contextually relevant to fitness and propriety requirements. 🔸 The AAT found that the tax agent had failed to comply with taxation laws in the conduct of his personal affairs, including entities for which the tax agent is ultimately responsible: "It is fair to say that the outstanding obligations were numerous, wide ranging and at least for a tax agent, if not for an ordinary taxpayer, serious." [Para 27] 🔸 The AAT ultimately decided to terminate the registration of the tax agent and the associated company of which the tax agent was the director. ----- Always seek advice specific to your circumstances directly from your appointed professional advisor. ----- Facing an ATO review, audit or dispute? For effective ATO engagement, getting #legal advice and establishing a strategy as early as possible is crucial. We work collaboratively alongside accountants, lawyers, and advisors. 🔸 Ask how we can help: 📧 [email protected]. #TaxLawyers #TaxDisputes #ATOreview #ATOaudit ----- Source: Case: GSXZ and Tax Practitioners Board [2024] AATA 1303 (30 May 2024) *Code: Section 30-5 of the Tax Agent Services Act 2009 (Cth) sets out the Code of Professional Conduct. ^Subsection 30 - 10(2) of the Code requires tax agents ‘to comply with taxation laws in the conduct of your personal affairs’.
To add to this reminder: Not all decisions will be anonymised. Great outcome on the (rare!) stay and the confidentiality orders that were put in place 👨⚖️ Vincent Licciardi.