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06 May 14 Complying with personal tax obligations

The Tax Practitioners Board advises that registered tax agents and BAS agents who fail to meet their personal tax obligations are in breach of the Code of Professional Conduct contained in the Tax Agent Services Act 2009 (Cth), and may be subject to a range of sanctions which can be imposed by the Board.

In the last 12 months the Board has completed around 145 investigations of registered tax and BAS agents who had failed to lodge their personal income tax returns or business activity statements.

These investigations have resulted in:

  • 17 agents’ registrations being terminated
  • 4 applications for registration renewal being rejected
  • 96 formal written cautions issued
  • 4 formal orders to take action being issued.

The Board will continue investigating tax and BAS agents who have failed to lodge their personal income tax returns or business activity statements. The Board will also investigate where an agent has an outstanding tax bill and has not come to an arrangement with the Commissioner to pay amounts owing.

For more information go here.

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