Investigations by the ATO's Wealth Program and the Tax Practitioners Board (TPB) have demonstrated how misconduct by tax advisers can have serious consequences. We welcome the actions of the TPB in terminating the registration of Sydney-based tax agent William GageExternal Link, following the identification of serious misconduct.
The process that led to Mr Gage's deregistration followed an examination of his affairs by the ATO Wealth Program. This uncovered key findings, including:
- an altered receipt for falsely claiming a personal tax deduction
- false claims of rental deductions and losses
- failure to submit multiple tax returns
- failure to submit business activity statements for associated entities.
The Wealth Program is an important initiative under the Tax Avoidance Taskforce. It investigates privately owned and wealthy groups, and their advisers, who are deliberately and persistently avoiding tax obligations. The program regularly engages early with other regulatory bodies, such as the TPB, to enable timely action to address misconduct.
The subsequent TPB investigation confirmed misconduct committed by Mr Gage.
Speaking about the case, Chair of the TPB, Peter de Cure AM, commented:
‘The integrity of the tax profession relies on tax practitioners upholding the highest ethical standards, and this case demonstrates the TPB’s commitment to taking decisive action against those who fail to do so. Mr Gage’s misconduct spanned many years and undermined public confidence, making his deregistration a necessary step in maintaining trust in the system.’
ATO Assistant Commissioner for the Wealth Program, Sarah Taylor, said:
'This outcome is an example of the tax system working effectively to identify and take action on non-compliance. Cross-agency collaboration has contributed to decisive action on wrongdoing. We know the vast majority of tax agents operate with integrity and professionalism. When misconduct does occur, it's important it's addressed in a way that protects the reputation of the profession and maintains public confidence.'
For more information on the Wealth Program and how we're supporting tax compliance, see Wealth Program tackling serious tax avoidance.