Investigations by the ATO's Wealth Program and Tax Practitioners Board (TPB) have demonstrated how tax adviser misconduct – even in their own affairs – can result in exposure to financial and reputational risk. We welcome recent action taken by the TPB to terminate tax agent William Gage's registrationExternal Link, after uncovering serious misconduct.
The process leading to Mr Gage's deregistration followed an ATO Wealth Program examination and subsequent TPB investigation. This uncovered an altered receipt for falsely claiming a personal tax deduction, false rental claims and failure to submit tax returns and business activity statements.
The Wealth Program is an important initiative under the Tax Avoidance Taskforce. It examines privately owned and wealthy groups, and their advisers, who are deliberately and persistently avoiding tax obligations.
ATO Assistant Commissioner for the Wealth Program, Sarah Taylor, said:
'This outcome is an example of the system working effectively to identify and take action on non-compliance. Whole-of-government collaboration has contributed to decisive action on wrongdoing.'
Ensure you're getting good advice
Because you're responsible for your tax affairs – even if you get bad advice – it's important to proactively look after your interests and only act on information you can trust. If it sounds too good to be true, it probably is.
Do your research
Make sure a tax practitioner is suitably qualified. You can check they're a registered tax practitioner at tpb.gov.au/public-registerExternal Link. Also ask about other qualifications like professional memberships e.g. CPA Australia, Chartered Accountants ANZ or Institute of Public Accountants.
Know the signs of good advice
A trustworthy tax practitioner will:
- help you understand what's lawful and guide you towards compliant solutions
- ask lots of questions to understand your situation
- ask you to substantiate any claims you make.
They won't act illegally, even if it's in your interests.
Get a second opinion if something seems off
If you're unsure if information is correct, you should consider getting a second professional opinion or visit our website.
Report unethical behaviour
If you suspect unethical behaviour, make a report at:
- ato.gov.au/tipoff – if it's an issue with tax compliance or advice related
- tpb.gov.au/complaintsExternal Link – if it's an issue with the conduct or professionalism of a registered tax practitioner.
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