Tax agents banned following consumer complaints
Two registered tax agents, QTR Accountants and Nicoh Group, have had their registrations terminated following 19 consumer complaints that they had not passed on 2017-18 tax refunds to their clients.
A further 200 complainants came forward in an urgent investigation by the Tax Practitioners Board (TPB) and Australian Taxation Office (ATO), with the former saying these supported its decision to terminate the agents’ registrations.
“It is extremely disappointing that registered tax practitioners showed such disregard for the professional and ethical standards we aim to uphold,” TPB chair, Ian Taylor, said of the two offending agents.
He warned that this case was indicative of the investigative work the TPB was currently undertaking to ensure the profession was properly regulated.
AUTHOR
Hannah Wootton
Recommended for you
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime becomes a threat.
Compliance professionals working in financial services are facing burnout risk as higher workloads, coupled with the ever-changing regulation, place notable strain on staff.
The Senate economics legislation committee has recommended Schedule 1 of the Delivering Better Financial Outcomes legislation be passed as it is a “faithful implementation” of the recommendations.
Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation.
