Explanation: On 17 December 2020, after completing an investigation, the Tax Practitioners Board (TPB) decided to suspend the tax agent registration of Andrew Losurdo, due to misconduct that involved multiple breaches of the Code of Professional Conduct (Code) in the Tax Agent Services Act 2009 (TASA).
The TPB found that Mr Losurdo had failed to:
• comply with the taxation laws in the conduct of his personal affairs, resulting in a constant and extensive pattern of late lodgements and payments to the Australian Taxation Office (ATO) for himself and entities that he is responsible for; and
• ensure that a tax agent service that he provided, or that was provided on his behalf, was provided competently, by not having adequate procedures in place to ensure taxation laws were applied correctly in preparing income tax returns (ITRs) for clients, in particular ensuring there was sufficient nexus and evidence to substantiate deductions claimed, which resulted in multiple clients having their ITRs amended and, in some cases, penalties imposed upon audit by the ATO.
In addition to the suspension, the TPB also issued an order requiring Mr Losurdo to address outstanding taxation obligations and complete courses of education in the TASA and Code, practice management and preparation of individual ITRs.
Date of Effect: 15/02/2021 to 15/08/2021Reason: 30-25 Failure to comply with the Code of Professional Conduct (suspension)
Period of Effect: 08/04/2021 to 08/09/2021Reason: 30-20 Order
None on record
None on record
CPA Australia *
* Professional association information has been provided by the registered tax practitioner. Users of the Register are encouraged to make their own independent enquiries to verify this information (for example, you may wish to contact the listed association(s)).