The Federal Court of Australia has imposed a $40,000 penalty on BAS agent Isabella Munro, who had been filing tax returns for clients while not registered as a tax agent with the Tax Practitioners Board.
Munro charged and received a fee for completing and lodging individual tax returns while unregistered, in breach of the Tax Agent Services Act 2009.
Between July 2010 and August 2011 Munro provided advice on individual tax returns in contravention of the law, including making claims for tax deductions without the taxpayers’ consent. An Australian Taxation Office audit revealed a number of errors in Munro's clients' returns that led to the BAS agent.
Dale Boucher, chair of the Tax Practitioners Board, said the penalty sent a strong message to people contravening the law. "This case shows that even though you may be a registered BAS agent, you should not be providing tax agent services, like preparing tax returns, for a fee. Those who provide tax agent services for a fee while not registered, will be caught and have to pay for their actions."
Consumers can check that their agent is registered at www.tpb.gov.au.
Do you know the difference between business activity statements, budgets, forecasts and company and individual tax obligations? Contact a CoursesNow consultant about the different accounting and bookkeeping qualifications on offer.
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