L 1 SE 104 233 CASTLEREAGH STREET SYDNEY New South Wales 2000
Other records
Expiry date
01/03/2025
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
<strong>Period of Effect:</strong> 04/01/2024 to 04/01/2029<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> 10/01/2024<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(2) - You must comply with the taxation laws in the conduct of your personal affairs</li><li>30-10(13) - You must maintain professional indemnity insurance that meets the Board's requirements</li><li>30-10(14) - You must respond to requests and directions from the Board in a timely, responsible and reasonable manner</li><li>20-15(a) Fit and Proper - good fame, integrity and character</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><li>20-5(1)(c) Individual has ceased to meet registration requirement that they maintain professional indemnity insurance that meets the Board's requirements</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 Qi Chen (Mr Chen). The TPB found that Mr Chen 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(2) of the Code when he failed to lodge Income Tax Returns (ITR’s) and Business Activity Statements (BAS) for an entity he is associated with between the 2018 and 2023.<br>2. Subsection 30-10(13) of the Code when he failed to maintain Professional Indemnity Insurance (PII) since it expired on 15 January 2023.<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 Chen 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 Codes as above. <br>2. His conduct in making a false statement to the TPB in his new registration application as an individual tax agent lodged on 17 December 2021.<br>3. His conduct in engaging in criminal activity that resulted in convictions. <br>4. His involvement in alleged conduct which resulted in his arrest for serious drug offences in October 2022. <br>5. The seriousness of this conduct undermines the integrity of the taxation system and the professional standards expected of tax practitioners and is such that the TPB, the Commissioner of Taxation, clients and the public could not have confidence that he would perform his functions as a registered tax practitioner competently and with integrity.<br>The TPB also determined that Mr Chen had ceased to meet the registration requirement of holding PII that meets the TPB’s requirements. <br>Accordingly, the TPB decided to terminate Mr Chen’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 Chen’s conduct, the TPB determined in accordance with subsection 40-25(1) of the TASA that Mr Chen be prohibited from re-applying for registration under the TASA for a period of five years from the date the termination of his registration takes effect.<br><br>