<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
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(7) - You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently</li><li>20-5 Eligibility for Registration</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 30 March 2023, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of Ozi Tax Advisors Pty Ltd (the Company).<br>The TPB found that the Company had engaged in conduct which breached subsections 30-10(7) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB found that the Company breached subsection 30-10(7) of the Code by:<br>1. failing to ensure that a tax agent service that it provided, or that was provided on its behalf, were provided competently by providing financial documentation in respect to a number of entities in support of loan applications that it knew, or ought to have known, did not reflect the true financial position of those entities.<br><br>4. The Board determined it was satisfied that the Company has ceased to meet the tax practitioner registration requirement under 20-5(3)(a) of the TASA that each director be a fit and proper person as a result of Mr Suriya:<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 the breaches of the Code over an extended period of time, and that the Company ceased to meet the tax practitioner registration requirement, the TPB decided to terminate the Company’s tax agent registration and prohibit it from applying for registration for a period of three years from the date when the termination of his registration takes effect.<br>