iscoverThe TPB has terminated a tax agent’s registration after he enabled an unregistered preparer to misappropriate almost $1 million from clients due to inadequate supervision and control.
‘Serious breach of trust’: TPB bans tax agent for overseeing $1m misappropriation
17 November 2025
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8 minute read
The Tax Practitioner's Board (TPB) has cancelled the registration of tax agent Denis Yeo and his company Coolah Tax & Accounting after Yeo failed to adequately supervise and control an unregistered preparer.
The board also barred Yeo from reapplying for TPB registration for three years.
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Yeo and his company failed to adequately supervise unregistered preparer Randolf Rindfleish, the TPB found, enabling Rindfleish to misappropriate almost $1 million in client funds.
The TPB has said that this case underscored the importance of practitioners to adequately supervise tax agent services and proved that failing to prevent misconduct would not be tolerated.
“Rindfleish’s actions represent a serious breach of trust and a direct threat to the integrity of the tax system,” TPB chair Peter de Cure said.
“The TPB is committed to protecting the community from individuals who exploit the privileged position of a tax practitioner for personal gain. Our decision to terminate the registration of Coolah Tax & Accounting and Denis Yeo reflects the seriousness of these breaches and our determination to uphold the highest standards of professional conduct.”
Over three years, Rindfleish lodged BAS, income tax returns and JobKeeper forms on behalf of clients and directed almost $1 million in funds to bank accounts under his control. The TPB said that the misappropriation had caused “significant harm” to clients and damaged trust in the tax system.
Rindfleish’s misconduct was made possible as Coolah Tax & Accounting failed to have proper controls or supervision to ensure that tax agent services provided on their behalf were competent and lawful, the TPB found.
Due to the repeated nature of Rindfleish’s conduct, the TPB concluded that the public could not trust Coolah Tax & Accounting to act with integrity or meet the TPB’s professional standards.
“The TPB will continue to take action against those who pose an ongoing risk to the public. We urge all registered tax practitioners to remain vigilant and ensure robust supervision and compliance within their practices,” de Cure said.
“Public confidence in the tax profession depends on our collective commitment to integrity and accountability.”
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