UNIT 4 63-69 BANK LANE KOGARAH New South Wales 2217
Other records
Expiry date
01/02/2023
Condition
Sanctions
None on record
Appeal
Board decision
CXL Reason
Disqualification
<strong>Period of Effect:</strong> 05/10/2023 to 05/10/2028<br/><strong>Reason:</strong>
Suspension
None on record
Termination
<strong>Date of Effect:</strong> 05/10/2023<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(2) - You must comply with the taxation laws in the conduct of your personal affairs</li><li>30-10(3) - If you receive money or other property from or on behalf of a client, and you hold the money or other property on trust, you must account to your client for the money or other property</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><li>30-10(11) - You must not knowingly obstruct the proper administration of the taxation laws</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(1)(a) Individual has ceased to meet registration requirement that they are a fit and proper person</li></ul><br/><strong>Explanation:</strong> On 8 December 2022, after completing an investigation, the Tax Practitioners Board (TPB) terminated the tax agent registration of Anastasios Fragogianis for breaching subsections 30-10(1), 30-10(2), 30-10(3), 30-10(7), 30-10(11) and 30-10(14) of the Code of Professional Conduct (the Code) of the Tax Agents Services Act 2009 (the TASA). <br>The TPB also determined that Mr Fragogianis was no longer eligible for registration, as he no longer satisfied the TPB that he met the registration requirement that he is a fit and proper person. <br>The TPB found that Mr Fragogianis:<br>Breached subsection 30-10(1) of the Code by: <br>a. specifying the details of a bank account, of which Mr Fragogianis was the sole holder and authorised operator at all relevant times, on JobKeeper claims, income tax returns (ITR) and business activity statements (BAS) that Fragogianis & Co Pty Ltd (the Company) prepared and lodged on behalf of multiple clients for the purpose of receiving the resulting tax refunds disbursed by the Australian Taxation Office (ATO), without the knowledge and authority of those clients.<br>b. making false statements to the Commissioner of Taxation in BAS lodged for multiple company clients that claimed false wages and PAYG entitlements to obtain a financial benefit, without the knowledge or authority of the companies’ directors.<br>Breached subsections 30-10 (2) and (11) of the Code by failing to respond to a notice issued under section 60-100 of the TASA.<br>Breached subsection 30-10 (3) of the Code by failing to account to multiple clients for payments received on their behalf into a bank account, of which Mr Fragogianis was the sole holder and authorised operator at all relevant times. <br>Breached subsection 30-10 (7) of the Code by failing to take reasonable care when preparing and lodging BAS on behalf of multiple clients, which resulted in the ATO making amendments on the basis that the clients were not eligible for Cash Flow Boost Payments. <br>Breached subsection 30-10 (14) of the Code by failing to respond to multiple requests from the TPB in a timely, responsible, and reasonable manner.<br>In determining that Mr Fragogianis ceased to be a fit and proper person, the TPB considered that he:<br>1. engaged in conduct that led to the breaches of subsections 30-10(1), 30-10(2), 30-10(3), 30-10(7), 30-10(11) and 30-10(14) of the Code.<br>2. failed to show acknowledgment, understanding or contrition for his conduct. <br>3. had shown a lack of regard for the TPB and the ATO.<br>4. had failed to respond to requests from the TPB, in a timely, responsible and reasonable manner by failing to respond to the TPB's requests for information, including not providing a response to the TPB’s 60-100 notice.<br>5. despite being requested to do so on multiple occasions over a 12-month period, failed to provide the TPB a copy of the audit conducted on the Company’s trust account.<br>Accordingly, the TPB decided to:<br>• terminate Mr Fragogianis’ tax agent registration in accordance with subparagraph 60-125(2)(b)(ii) and paragraph 40-5(1)(b) of the TASA; and <br>• prohibit Mr Fragogianis from re-applying for registration in accordance with subsection 40-25(1) of the TASA for a period of five (5) years from the date the termination of his registration takes effect.<br>On 20 January 2023, Mr Fragogianis made an application to the Administrative Appeals Tribunal (AAT) for a review of the TPB’s decision. <br>On 5 October 2023, the AAT refused Mr Fragogianis’ application for a stay of the TPB’s decision. <br>A copy of the decision be found here: http://www.austlii.edu.au/cgi-bin/viewdoc/au/cases/cth/AATA/2023/3145.html?context=1;query=fragogianis;mask_path= <br>On 1 November 2023, Mr Fragogianis withdrew his application for review in the AAT.<br>