Tax agent loses Federal Court battle to TPB
Former tax agent Rudy Frugtniet has failed in his bid to overturn the Tax Practitioners Board (TPB) termination of his registration in the Federal Court of Australia, after six years of litigation.
His registration was terminated in January 2013 which precluded him from applying for registration for five years on this basis he was not fit and proper.
The decision was based on his history of misconduct, being disqualified from legal practice, making false statements to a court and client, and failing to disclose these matters while applying as a tax agent.
Frugtniet pursued legal action against the TPB, which included two Administrative Appeal Tribunal (AAT) reviews and three Federal Court appeals which led to this final full Federal Court decision.
Ian Klug, TPB chair, said in addition to law clarification, their litigation program supported these types of actions.
“We recognise that litigation is an expensive and lengthy process, however, the TPB is committed to taking appropriate action to ensure just outcomes and to deter poor conduct,” Klug said.
Recommended for you
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
A leading governance body has hit out at “specialist interest groups proposing ad hoc law reform” when it comes to reforms of financial services legislation and believes an independent body is needed.
The release of ALRC’s final report into financial services legislation has highlighted financial advice as a “significant” focus as it seeks to reduce costs and help advisers understand their obligations, alongside the Quality of Advice Review.
