Suite 7 20 Young Street NEUTRAL BAY New South Wales 2089
Other records
Expiry date
01/02/2025
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
None on record
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 07/06/2023<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(11) - You must not knowingly obstruct the proper administration of the taxation laws</li><li>20-15(a) Fit and Proper - good fame, integrity and character</li><li>20-5 Eligibility for Registration</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 Mark Schrader. The TPB found that Mr Schrader had engaged in conduct which involved breaches of the Code of Professional Conduct (Code). The TPB also determined he had ceased to meet the tax agent registration requirements as he:<br>1. No longer satisfied the TPB that he was a fit and proper person. <br>The TPB also imposed a period of five years during which Mr Schrader is disqualified from making an application for registration.<br>The TPB found that he breached the Code when he:<br>1. Failed to act honestly and with integrity, by:<br>a. Lodging 35 SMSF returns for 7 funds (including his own), on each occasion making a false and misleading statement to the Commissioner, falsely claiming that the funds had been audited by a registered SMSF auditor between 6 June 2016 and 14 May 2021.<br>b. On 29 October 2021, in response to an ATO request for documents, providing 12 falsified audit reports to the ATO, which had been created on letterhead obtained from audits conducted for the 2014 year and 1 falsified report which had been created on the tax agent’s own letterhead. Nine of these contained the falsified signature of a registered SMSF auditor.<br>2. Knowingly obstructed the proper administration of the taxation laws by:<br>a. Providing false or misleading information and documents to the Commissioner by presenting 12 false audit reports and invoices to the ATO on 29 October 2021, with the intention they accept the documents he knew to be false as true and correct documents.<br>In addition to these Code breaches, the TPB determined that Mr Schrader 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. His conduct undermines the integrity of the taxation system and the professional standards expected of tax practitioners.<br>3. The seriousness of this conduct is such that the Board, the Commissioner, clients and the public could not have confidence that he would perform his functions as a registered tax practitioner competently and with integrity.<br>