<strong>Date of Effect:</strong> 31/05/2023<br/><strong>Reason:</strong> 40-15(1)(b) company no longer meets registration requirements[POPUP_FOR_DETAILS]<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><li>20-5(3)(b) Company has ceased to meet registration requirement that the company is not under external administration</li><li>20-5(3)(d) Company has ceased to meet registration requirement that it has a sufficient number of registered tax practitioner individuals to provide tax agent services to a competent standard and to provide supervisory arrangements</li></ul><br/><strong>Explanation:</strong> Register Text – Springside Holdings Pty Ltd<br>On 30 March 2023, after completing an investigation, the Tax Practitioners Board (TPB) terminated the tax agent registration of Springside Holdings Pty Ltd (the Company). The TPB found the Company failed to meet the following registration requirements under the Tax Agent Services Act 2009 (the TASA):<br>(a) paragraph 20-5(3)(a), being the requirement that its sole director, Mr Richard Hill (a former tax agent that was terminated by the TPB and prohibited from reapplying for registration for a period of two years in January 2019), is a fit and proper person;<br>(b) paragraph 20-5(3)(b), being the requirement that it is not under external administration; and<br>(c) paragraph 20-5(3)(d)(i), being the requirement that it has a sufficient number of registered individuals to provide supervision and control.<br>The TPB’s decision was based on the following:<br>1. The Company ceased to meet the registration requirement that Mr Hill be a fit and proper person on the basis that Mr Hill, in his capacity as sole director of the Company, failed to:<br>a. Pay, or enter payment arrangements with the Australian Taxation Office (ATO) to pay, his Integrated Client Account debt of $5,484.80 and a director penalty liability of $22,258.83;<br>b. ensure the Company had a sufficient number of supervising agents (and failed to inform the TPB of this); and<br>c. ensure that the Company met its Superannuation Guarantee obligations to pay, or enter payment arrangements with the ATO to pay, liabilities totalling $100,111.41 (as at 15 February 2023).<br>2. The Company went into external administration on 18 August 2021, was still under external administration as at the date of the TPB’s decision, and the Company failed to notify the TPB of the external administration; and<br>3. The Company’s nominated sole supervising agent since 1 July 2019 advised the TPB that he had never acted in that position, nor signed off on any lodgements on behalf of the Company, and requested Mr Hill to remove him as the Company’s nominated supervising agent in February 2020 and March 2020, which Mr Hill failed to do (he also failed to address this issue in the Company’s response to the TPB during the investigation). This resulted in the Company lodging 354 income tax returns on behalf of clients between February 2020 and March 2023 without having a supervising agent in place, and the TPB having to remove the nominated supervising agent from its records on 17 February 2023, after Mr Hill had still failed to do so. <br><br>Accordingly, the TPB decided to terminate the Company’s tax agent registration in accordance with paragraph 40-15(1)(b) of the TASA on the basis that the Company ceased to meet the above registration requirements under the TASA. <br>