1/234 West Street Umina Beach New South Wales 2257
Other records
Expiry date
01/06/2023
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
<strong>Period of Effect:</strong> 05/01/2024 to 05/01/2025<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> 05/01/2024<br/><strong>Reason:</strong> 30-30 Failure to comply with Code of Professional Conduct[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><li>30-10(14) - You must respond to requests and directions from the Board in a timely, responsible and reasonable manner</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 16 November 2023, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of Mr Gregory Coleman (Mr Coleman). The TPB found that Mr Coleman had engaged in conduct which involved breaches of the Code of Professional Conduct (Code) in the Tax Agent Services Act 2009 (TASA). The TPB found that he breached:<br>1. Subsection 30-10(1) of the Code by making a false statement to the TPB when he failed to declare a significant number of outstanding taxation obligations in his renewal application with the TPB in May 2020. <br>2. Subsection 30-10(2) of the Code when in his individual capacity and in his capacity as director of two entities, he failed to: <br>a. lodge a total of 13 Income Tax Returns (ITR’s), and 50 Business Activity Statements (BAS) by their due dates<br>b. pay outstanding tax debts totalling over $610,000.<br>3. Subsection 30-10(14) of the Code when he failed to provide a response to the TPB in a timely, responsible and reasonable manner.<br>In addition to these Code breaches, the TPB determined that Mr Coleman ceased to meet the tax practitioner registration requirement that he is a fit and proper person, on the basis that:<br>1. His conduct resulted in serious breaches of the Code as above. <br>2. Mr Coleman has demonstrated a consistent inability or unwillingness to comply with taxation laws across a number of years, through the continual lodgement of forms and returns with the Commissioner of Taxation late, or not at all, and the accrual of significant debts for both himself and his related entities, that remain unpaid.<br>3. The longstanding nature of Mr Coleman’s non-compliance with his taxation obligations formed a pattern of behaviour that falls well short of the standards expected of a registered tax practitioner. The TPB concluded that it could not have confidence that Mr Coleman would continue to uphold those standards in the future if he were to remain registered. <br>4. Engagement with the TPB, as the regulator for the tax profession, is an important dimension of a registered practitioner’s responsibilities and failing to engage appropriately is a serious issue. The Committee noted that Mr Coleman had repeatedly failed to engage with the TPB despite many attempts by the TPB to do so, and being afforded extensions to the dates by which he was required to respond to the TPB, as he had requested.<br>Accordingly, the TPB decided to terminate Mr Coleman’s tax agent registration in accordance with subparagraph 60-125(2)(b)(ii) and paragraph 40-5(1)(b) of the TASA. Taking into consideration the seriousness of Mr Coleman’s conduct the TPB determined in accordance with subsection 40-25(1) of the TASA that Mr Coleman be prohibited from re-applying for registration under the TASA for a period of one year from the date the termination of his registration takes effect.<br><br>