- 30-10(01) Code - failed to act honestly with integrity
- 30-10(02) Code - failed to comply with taxation laws in conduct of personal affairs
Registration requirement not met:
- 20-5(3)(a) Company has ceased to meet registration requirement that each director is a fit and proper person
Explanation: On 22 July 2020, after completing an investigation, the Tax Practitioners Board (TPB) terminated the tax (financial) adviser registration of 06041970 Pty Ltd (the Company).
The TPB found the Company:
• did not act honestly and with integrity by failing to disclose in its renewal application its outstanding tax obligations; and
• failed to comply with its tax obligations.
In addition to the Code of Professional Conduct breaches, the TPB determined the Company had ceased to meet the tax practitioner registration requirement that each director of the Company is a fit and proper person.
The TPB found that the Company director,
Mr Colin David Kynoch, is not a fit and proper person as he engaged in conduct that:
• Failed to comply with his own taxation affairs.
• Made false or misleading statements to the Board on the Annual Declaration form.
• Failed to comply with taxation laws, including failing to respond in a timely, responsible and reasonable manner to formal notices and directions from the Commissioner.
• Failed to engage the TPB and the ATO
The TPB also took into consideration the Company’s extended history of non-compliance with taxation laws resulting in criminal convictions for non-lodgement of taxation obligations in the Magistrates’ Court of Victoria at Melbourne on 10 August 2017 pursuant to section 8C(1) of the Taxation Administration Act 1953(Cwlth).
Date of Effect: 22/09/2020Reason: 30-30 Failure to comply with Code of Professional Conduct