TPB
warns taxpayers of unregistered agents in awareness campaign | Accountants
Daily
The regulator’s new initiative
aims to protect individuals and small businesses from fraud.
24 June 2024
The TPB has
launched a public campaign highlighting the dangers of using dodgy agents in
the lead-up to tax time.
It said the
campaign, themed ‘Find a tax agent you can trust’, would run until the end of
July to educate taxpayers and small businesses.
“The
campaign will highlight the serious issue of unregistered tax preparers using
taxpayers’ MyGov account details to lodge tax returns,” it said.
“This illegal activity exposes consumers to
fraud and puts their financial and personal information at risk.”
The TPB said
it would advertise on social media and podcasts and use banner advertisements
encouraging taxpayers to check the TPB register to verify their agents’
registration status.
It also
launched an educational webpage with an interactive tool featuring 10 different
tax preparer scenarios.
“If you use
someone to prepare or lodge your tax returns, notices or statements, or to
provide you with tax advice this tax time, make sure they are registered with
the TPB,” the page read.
“Engaging
with a registered tax practitioner ensures the service you are receiving comes
from a qualified professional and may protect you from penalties should your
practitioner not take reasonable care. Remember, you are responsible for your
return even if someone prepares it for you.”
The tool
classified tax agents recommended by friends or family, accountants belonging
to a professional association, friends, former tax agents and tax agents who
promoted themselves on job boards as potentially untrustworthy.
“It is
common for illegitimate or terminated agents to promote tax services on job
boards as a means of avoiding regulation from the TPB. Engaging their services,
without ensuring they are properly registered, exposes you to risk and possible
penalties if they include false or misleading information in your return,” one
card read.
Consumers
were also warned against using tax agents registered in another country.
“While they
might be excellent agents in their own countries, they are unlikely to know
enough about our tax system to be helpful. They still have to be registered
with the TPB if they receive a payment or benefit from you,” the TPB said.
The card
with the scenario of “BAS agents or financial advisers offering tax return
services” was also deemed untrustworthy.
“Only registered
tax agents can legally prepare and lodge tax returns on behalf of clients.”
The campaign
follows the recent introduction of annual registration rules to
increase visibility over practitioners.
Tax agents
seeking to maintain their registration would be required to pay $273 annually
after the government updated the fee schedule and abolished the triennial
system.
The TPB said
the registration period changing from three years to one year was a decision
made by the government to ensure ongoing visibility of tax practitioner
registrations.
“[It] will
increase consumer confidence that tax practitioners continue to meet their ongoing
registration requirements and only those that should be registered are,” the
TPB said on its website.
Ruth Owen CBE GAICD - Appointment – Inspector-General of Taxation
“After a relaxing break, I’m pleased to be back and [am] looking forward to the opportunities ahead as we start the transition to our new Service Delivery Group structure. In late May, the Service Delivery Executive advised all Service Delivery employees of our decision to move forward with implementing a new structure for our Group,” Tax’s acting second commissioner of Service Delivery David Allen told ATO staff last week.
ATO Service Delivery Group restructure to hit 5,000 staff
Ditching paper money has made Sweden a haven for online scams Straits Times
Fast Crimes at Lambda School Sandofsky
This Week in AI: Generative AI is spamming up academic journals TechCrunch
Neo-Nazis Are All-In on AI Wired
Hackers ‘jailbreak’ powerful AI models in global effort to highlight flaws FT
Meta warns bit flips, other hardware faults cause AI errors The Register
How Homeownership Became an American Fantasy Bloomberg
How America is sliding towards a Banana Republic
Explore present and future climate zones for dozens of global cities. “With climate change, your city isn’t just getting hotter: it will resemble the distinctive climate of completely different places.”
