LEVEL 1 BUILDING 3 20 WORTH STREET CHULLORA New South Wales 2190
Other records
Expiry date
01/03/2025
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
None on record
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 19/09/2023<br/><strong>Reason:</strong> 40-15(1)(b) company 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></ul><br/><strong>Registration requirement not met:</strong> <ul><li>20-5(3)(a) Company has ceased to meet registration requirement that each director is a fit and proper person</li></ul><br/><strong>Explanation:</strong> On 20 July 2023, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of MGZ Advisory Pty Ltd (the Company) as it ceased to meet the tax practitioner registration requirement that each of its directors must be a fit and proper person after it found that its sole director, Marwan Al-Abden is no longer a fit and proper person. The TPB also determined that the Company had engaged in conduct that breached the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB concluded that Mr Al-Abden, as the sole director of the Company, was no longer a fit and proper person on the basis that:<br>• he made a false declaration to the TPB in his 2022 application for renewal of his tax agent registration by failing to declare the outstanding income tax returns and business activity statements for his related entities.<br>• he failed to lodge a total of 32 income tax returns and 149 business activity statements for himself and his related entities by their respective due dates.<br>• he failed to pay taxation debts totalling more than $570,000 for himself and his related entities.<br>• he failed to maintain PI insurance that meets the TPB's requirements for a period of more than 10 months.<br>• he failed to respond to directions and requests from the TPB in a timely, reasonable and responsible manner.<br>The TPB also found that the Company had breached the Code by:<br>• failing to lodge a total of six income tax returns and 22 business activity statements for its associated trust by their respective due dates.<br>• failing to pay its outstanding tax debt of more than $390,000.<br>• failing to maintain PI insurance that meets the TPB's requirements for a period of more than 10 months.<br>• failing to respond to requests from the TPB in timely, reasonable and responsible manner.