iscover Former accountant's 'unlawful' tax agent services exposed by TPB investigation
RegulationAn investigation by the TPB has found that a former accountant contravened the Tax Agent Services Act by providing tax agent services while unregistered.
The Tax Practitioners Board (TPB) has made findings against former Western Sydney accountant, Peter Ristevski, who allegedly provided and advertised tax agent services, despite his registration having been previously terminated by the TPB.
The investigation found Ristevski had contravened the Tax Agent Services Act 2009 (TASA) by providing tax agent services unlawfully.
TPB chair Peter de Cure AM said that it was a complex investigation as Ristevski had gone to extra lengths to conceal his involvement to ensure that his unlawful activities were undetected.
Ristevski was found to have represented clients in their dealings with the Commissioner of Taxation, including lodging income tax returns and business activity statements using another entity.
He was also found to have redirected or caused the redirection of tax refunds into accounts that he had sole or joint control over without the client’s knowledge or authority.
According to the TPB, he also provided services and tax opinions that supported phoenix-like and creditor defeating arrangements, including to avoid taxation obligations.
Ristevski also provided assistance in the backdating of director appointment records to allow for straw directors to be appointed to companies and advertised tax agent services whilst unregistered via social media, including on YouTube, Instagram, LinkedIn and Facebook.
The TPB said unregistered preparers pose significant risks to clients and the broader community.
"Registered tax practitioners play an important role in supporting taxpayers and maintaining confidence in the tax profession and tax system," it said.
"They are required to meet registration requirements under the TASA, and ongoing professional and ethical obligations."
The TPB said it continues to focus on high-risk individuals and addressing misconduct where it continues even after their registration has been terminated.
De Cure said that unregistered preparers can expose clients to significant risks and undermine the integrity of the tax system.
"The TPB will continue to take appropriate action where unlawful conduct is identified, including where individuals continue to provide services after being removed from the system because of misconduct," he added.
"Protecting consumers and maintaining confidence in the tax profession and tax system remains a key priority for the TPB."
The TPB is encouraging the community to contact the TPB if they are aware of Peter Ristevski continuing to provide tax agent services.
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Miranda Brownlee
Miranda Brownlee is the editor of Accountants Daily and Accounting Times, the leading sources of news, insight, and educational content for professionals in the accounting sector.
Miranda has over a decade of experience reporting on the financial services and accounting sectors, working on a range of publications including SMSF Adviser, Investor Daily and ifa.