<strong>Period of Effect:</strong> 31/07/2023 to 31/07/2026<br/><strong>Reason:</strong> 40-25 Period during which you may not apply for registration[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(7) - You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently</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>
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 31/07/2023<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(7) - You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently</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 30 March 2023, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of Osama Suriya.<br>The TPB found that Mr Suriya had engaged in conduct which breached subsections 30-10(1) and 30-10(7) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB found that Mr Suriya:<br>1. Breached subsection 30-10(1) of the Code by:<br>a. falsifying income documents for a company of which he was the sole director in order to facilitate approval for a loan for himself and a trust of which he was a trustee.<br>b. providing financial documentation for entities associated to eight clients, in support of loan applications, that he knew or ought to have known was false.<br><br><br>2. Breached subsection 30-10(7) of the Code by<br>a. failing to ensure that a tax agent service that he provided, or that was provided on his behalf, was provided competently by providing financial documentation in respect to a number of entities in support of loan applications that he knew, or ought to have known, did not reflect the true financial position of those entities.<br><br>3. The Board determined it was satisfied that Osama Suriya had ceased to meet the tax practitioner registration requirement under 20-5(1)(a) of the TASA that he is a fit and proper person as a result of the following:<br>a. engaging in conduct which breached subsections 30-10(1) and 30-10(7) of the Code<br>b. in his capacity as the sole director and sole supervising agent of registered company tax agent, Ozi Tax Advisors Pty Ltd, causing the company to engage in conduct that was found to have breached subsection 30-10(7) of the TASA<br>c. demonstrating a significant lack of honesty and integrity by falsifying financial documentation for a company he was a director of in order to facilitate a loan application for himself and a trust (of which he is a trustee) and subsequently taking no action to attempt to rectify the false financial information provided to third parties, despite being aware of the inaccuracies.<br>d. demonstrating a significant lack of competency and integrity across a significant period of time by repeatedly providing financial documentation in support of loan applications for multiple clients that he knew or ought to have known did not reflect the true financial position of those entities, and subsequently taking no responsibility or action to rectify this incorrect financial documentation.<br><br>Taking into account the seriousness of Mr Surya’s breaches of the Code over an extended period of time, and that he was no longer a fit and proper person, the TPB decided to terminate Mr Suriya’s tax agent registration and prohibit him from applying for registration for a period of three years from the date when the termination of his registration takes effect.<br>