News

Brown Baldwin and Associates cops five-year ban

By James Bennett

Brown Baldwin and Associates have consistently and flagrantly ignored the standards required to be a tax practitioner, according to the Tax Practitioners’ Board.

That is what board chair Ian Klug said about the firm, which has had its registration terminated and received the maximum five-year ban.

The six month investigation by the board found BBA failed to meet outstanding taxation obligations on several occasions.

It noted BBA had two sets of financial accounts — bank purposes and tax purposes — which the board found as misleading information provided to the Commissioner of Taxation and credit/finance companies.

The investigation concluded BBA did not ensure staff were acting competently and helped some clients avoid tax and debt payments by setting up companies.

Directors Andrew Locantro, Biren Shah and Rajinder Narula were found responsible for misconduct and providing misleading information to TPB.

“As a result of our investigation we concluded that the public could have no confidence that either the company or its directors will perform the functions of a registered tax agent either competently or with integrity,” Mr King said.

“Where tax practitioners deliberately choose to jeopardise the high levels of trust that the community, and the law, expects of the industry, we will act with the harshest possible penalties.”