<strong>Period of Effect:</strong> 05/12/2023 to 05/06/2024<br/><strong>Reason:</strong> 30-20 Order[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><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><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>Explanation:</strong> On 18 October 2023, after completing an investigation, the Tax Practitioners Board (the TPB) determined that SCN Signature Pty Ltd had breached subsections 30-10(2), 30-10(7) and 30-10(14) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB found SCN Signature Pty Ltd breached the Code:<br>1. Not complying with the taxation laws in the conduct of its personal tax affairs including for its related entities by:<br>a. Failing to lodge income tax returns (ITRs) and business activity statements by their respective due dates and<br>b. Failing to pay outstanding obligations as and when they fell due<br>c. Lodging JobKeeper application forms in circumstances where the entity was not entitled to receive the JobKeeper payments.<br>2. Failing to ensure that tax agent services it provided, or that was provided on its behalf, was provided competently by failing to take reasonable care in the preparation and lodgement of 10 ITRs for six clients which were subject to Australian Taxation Office 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 shortfall penalties payable by client<br>3. Failing to respond in a timely, responsible and reasonable manner by failing to respond to TPB correspondence and requests for information reasonably and by the required due dates.<br><br>Taking into account all of the relevant circumstances, the TPB decided to impose an Order under section 30-20 of the TASA, requiring SCN Signature Pty Ltd to:<br>1. Lodge all of its outstanding obligation including for its related entities within six (6) months from the date of the order.<br>2. Pay any outstanding taxation debts or enter into a payment plan in relation including for its related entities six (6) months from the date of the order<br>3. Nominate a new supervising agent for the practice for a period of 12 months to supervise and control the tax work completed by the employee of the practice and advise the TPB.<br><br />[MORE_ITEM]<strong>Period of Effect:</strong> 05/12/2023 to 05/06/2024<br/><strong>Reason:</strong> 30-20(1)(b) - Supervision Order[POPUP_FOR_DETAILS]<br/><strong>Code breach(es):</strong> <ul><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><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>Explanation:</strong> On 18 October 2023, after completing an investigation, the Tax Practitioners Board (the TPB) determined that SCN Signature Pty Ltd had breached subsections 30-10(2), 30-10(7) and 30-10(14) of the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA).<br>The TPB found SCN Signature Pty Ltd breached the Code:<br>1. Not complying with the taxation laws in the conduct of its personal tax affairs including for its related entities by:<br>a. Failing to lodge income tax returns (ITRs) and business activity statements by their respective due dates and<br>b. Failing to pay outstanding obligations as and when they fell due<br>c. Lodging JobKeeper application forms in circumstances where the entity was not entitled to receive the JobKeeper payments.<br>2. Failing to ensure that tax agent services it provided, or that was provided on its behalf, was provided competently by failing to take reasonable care in the preparation and lodgement of 10 ITRs for six clients which were subject to Australian Taxation Office 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 shortfall penalties payable by client<br>3. Failing to respond in a timely, responsible and reasonable manner by failing to respond to TPB correspondence and requests for information reasonably and by the required due dates.<br><br>Taking into account all of the relevant circumstances, the TPB decided to impose an Order under section 30-20 of the TASA, requiring SCN Signature Pty Ltd to:<br>1. Lodge all of its outstanding obligation including for its related entities within six (6) months from the date of the order.<br>2. Pay any outstanding taxation debts or enter into a payment plan in relation including for its related entities six (6) months from the date of the order<br>3. Nominate a new supervising agent for the practice for a period of 12 months to supervise and control the tax work completed by the employee of the practice and advise the TPB.<br>