The Tax Practitioners Board (TPB) has announced that the Federal Court has ordered an unregistered NSW tax agent to pay a $64,000 penalty for breaches of the Tax Agent Services Act 2009. The Board reported that the Court found the man had been preparing income tax returns and requests for amendments to prior year returns for taxpayers when he was not a registered tax agent. The Court also ordered that the man, for a period of 3 years, must advise people that he is not a registered tax agent and cannot charge a fee for his work prior to providing tax agent services. The Board said many of the man’s clients had been penalised by the Tax Office for incorrect tax returns and had incurred large tax bills.
Source: TPB media release, 30 August 2012
[LTN 169, 31/8]