AAT rejects tax (financial) adviser's application for a stay
On 19 June 2019, the Administrative Appeals Tribunal (AAT) rejected the stay application of tax (financial) adviser, Mr Neil Evans. Mr Evans sought a stay of our decision from 18 April 2019 to terminate his registration. We found he was no longer a fit and proper person after he breached the Code of Professional Conduct.
On 31 May 2019, Mr Evans was also permanently banned from providing financial services by the Australian Securities and Investments Commission (ASIC).
Following the ASIC investigation, Mr Evans pleaded guilty in July 2018 to contravening the Crimes Act 1958 (Vic) for rigging votes in a company board election. No conviction was recorded, however, he was placed on a 12-month good behaviour bond and ordered to pay $12,000 into the court fund.
Mr Evans did not notify us of his conduct, plea of guilt and subsequent sentence. He also failed to disclose the events in an application for renewal and an annual declaration.
Mr Evans applied to the AAT for a review of the TPB's decision to terminate his registration on 27 May and requested the AAT make an order staying the TPB decision. This would have allowed him to remain registered pending the outcome of his application for a review.
The AAT refused the application for a stay of the Board's decision and the termination of registration has now come into effect. In denying the stay, the AAT recognised the relevant role of regulatory bodies and 'the importance of maintaining the public's confidence in the tax agent profession.'
The AAT's decision serves as an important reminder to all registered tax practitioners of their duty to disclose to the Board matters which may adversely affect their registration.
The AAT's review will continue.
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Last modified: 2 July 2019