<strong>Period of Effect:</strong> 12/03/2024 to 12/04/2024<br/><strong>Reason:</strong> 30-20(1)(b) - Supervision Order[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(2) - You must comply with the taxation laws in the conduct of your personal affairs</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>Explanation:</strong> On 15 February 2024, after completing an investigation, the Tax Practitioners Board (the TPB) determined that Seery Hill Pty Ltd had breached subsections 30-10(1), 30-10(2) and 30-10(7) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB found Seery Hill Pty Ltd breached the Code:<br>1. In that it did not act honestly and with integrity, by failing to declare all GST on sales in 8 quarterly business activity statements (BAS) as lodged with the Commissioner of Taxation, resulting in a tax shortfall and shortfall penalty of 50% for recklessness.<br>2. In that it did not comply with the taxation laws in the conduct of its personal affairs by failing to declare all GST on sales in 8 quarterly BAS as lodged with the Commissioner of Taxation, resulting in a tax shortfall and shortfall penalty of 50% for recklessness.<br>3. In that it failed to ensure that a tax agent service that it provided, or that was provided on its behalf, was provided competently by failing to take reasonable care in the preparation and lodgement of income tax returns for 31 clients who were subject to ATO compliance activities, and were found to have included overclaimed, or incorrect, deduction claims that:<br>a. did not have sufficient nexus to assessable income, and/or<br>b. could not be adequately substantiated, and<br>c. resulted in tax shortfalls and/or shortfall penalties payable.<br>Taking into consideration the relevant circumstances, the TPB decided to impose: <br>1. an order under section 30-20 of the TASA, requiring the company to: <br>a. report to the TPB steps implemented/to be implemented to improve the company’s supervision and control, including an increase to the number of supervising agents; and<br>b. provide the TPB written confirmation that that Company has implemented its new process. <br>