<strong>Period of Effect:</strong> 26/06/2023 to 26/06/2025<br/><strong>Reason:</strong> 40-25 Period during which you may not apply for registration
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 26/06/2023<br/><strong>Reason:</strong> 40-5(1)(b) individual no longer meets registration requirements[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><li>30-10(1) - You must act honestly and with integrity</li><li>30-10(2) - You must comply with the taxation laws in the conduct of your personal affairs</li></ul><br/><strong>Registration requirement not met:</strong> <ul><li>20-5(1)(a) Individual has ceased to meet registration requirement that they are a fit and proper person</li></ul><br/><strong>Explanation:</strong> On 27 April 2023, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of Mr Christopher McCroary. The TPB found Mr McCroary breached subsections 30-10(1) and 30-10(2) of the Code of Professional Conduct (Code) in the Tax Agent Services Act 2009 (TASA). The TPB also determined he was no longer eligible for registration as he no longer satisfied the TPB that he met the tax practitioner registration requirement that he was a fit and proper person. The TPB imposed a period of two years during which he may not apply for registration. <br>The TPB found that Mr McCroary had breached the Code by:<br>• making false declarations to the TPB in two consecutive applications for registration renewal by failing to declare the outstanding debts and lodgements for his related entities<br>• making false declarations to the Commissioner of Taxation when he lodged 19 financial years of self-managed superannuation fund (SMSF) annual returns and declared that those returns had been audited by an authorised SMSF auditor prior to lodgement, when in fact they had not<br>• failing to lodge 22 financial years of SMSF annual returns for his related SMSF by their respective due dates and failing to pay, or enter into arrangements with the ATO to pay, substantial taxation debts incurred by the SMSF<br>• failing to lodge 22 financial years of income tax returns for his related family trust by their respective due dates<br>• failing to lodge 12 quarterly business activity statements for his company by their respective due dates<br>The TPB determined that Mr McCroary no longer met the tax practitioner registration requirement that he was a fit and proper person on the basis of:<br>• his conduct that breached the Code<br>• the dishonest nature of his conduct in his dealings with an authorised SMSF auditor and the ATO<br>• the extensive and long-standing nature of his non-compliance<br>• his level of experience as a tax agent and the expected level of knowledge and skill that is associated with such a lengthy professional career<br>• his lack of contrition and lack of any self-prompted action to remediate his non-compliance to date<br>In making its decision, the TPB also noted its role is to ensure consumer protection and that it has an objective to protect and maintain the integrity of the registered tax practitioner profession.<br>In imposing a two-year period during which Mr McCroary may not apply for registration, the TPB considered Mr McCroary’s conduct demonstrated an ongoing pattern of behaviour that was likely to recur in the future and noted the deterrent effect this sanction would have on other registered tax practitioners who neglect their own taxation obligations, including those of entities over which they have control.