A former EY partner, Mr Peter Mark White, from Sydney, has had their tax agent registration terminated for misconduct and has been banned for 5 years from seeking registration with the Tax Practitioners Board (TPB).
Mr White is the sole director of an associated company, Albus Advisory Pty Ltd, that also had its tax agent registration terminated with the maximum 5-year ban being applied.
The TPB found Mr White’s misconduct to be serious, deliberate and dishonest, involving multiple breaches of the Tax Agent Services Act 2009 and the Code of Professional Conduct. This resulted in a finding of Mr White no longer being a fit and proper person to remain registered.
The TPB findings related to dishonesty, integrity, competence, conflicts of interest and obstructing the administration of the tax laws, including:
- devising tax minimisation schemes for clients
- personal tax evasion in relation to his professional fees
- false statements to the ATO asserting that professional fees were gifts
- failure to register and pay GST liabilities of $205,000
- failure to lodge activity statements and income tax returns
- failure to pay a tax debt of $2 million.
EY terminated Mr White’s membership of the partnership in August 2022 after its own review and in a related matter, the Australian Taxation Office (ATO) has initiated a promoter penalty case against Mr White in the Federal Court of Australia.
The TPB Chair, Peter de Cure AM, said ‘There is no future for tax agents associated with tax avoidance or evasion. Mr White’s misconduct harmed his clients, his firm, the tax profession and the tax system, and requires the maximum penalty of deregistration and exclusion for 5 years.’
‘This case demonstrates close collaboration between the TPB and ATO to address professional misconduct and tax schemes that could undermine services and support provided by Government to the Australian community.’
Mr de Cure went on to say, ‘We welcome the Government’s reforms to the improve the integrity of the tax regulatory system through improved professional standards and enhanced intelligence, disclosures, investigative powers and resources. This case reinforces high professional standards required of all tax advisers, including compliance with their own tax obligations.’
‘The TPB Register provides important information about registered tax practitioners, and details of TPB sanctions. This information is designed to assist those seeking a tax practitioner who acts lawfully, ethically and in the best interests of their client.’
These TPB sanctions against Mr White and his company, Albus Advisory Pty Ltd, are subject to an ongoing administrative appeal, however the Administrative Review Tribunal was briefed on the serious nature of these cases and refused both stay applications
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