The Tax Practitioners Board (TPB) has warned tax agents about being used by others to lodge fraudulent tax returns. Board Chairman Dale Boucher said the Board has terminated a number of tax agent registrations for failing to take reasonable care and for not being fit and proper persons. These agents were involved in lodging fraudulent income tax returns, based on false payment summaries. Mr Boucher also noted that it was becoming more common for tax agents to accept new clients from online referrals. He said it can be difficult to establish a proof of identity in these cases and to verify the information supplied about the client. To reduce the risk of being used to commit refund fraud, Mr Boucher said agents should ensure they have “strong and robust procedures in place”.
[LTN 184, 21/9]