Press Release: The Tax Institute urges financial planners to check compliance after unregistered tax agents fall foul of the law

Australia’s leading educator and association of tax professionals, The Tax Institute, has warned tax agents and financial planners to ensure they have complied fully with registration requirements are after an unregistered Canberra-based tax agent and his company was ordered to pay $900,000 in fines.
The Federal Court of Australia has imposed the largest penalty to date for breaches of the Tax Agent Services Act 2009 (TASA). Mr Kolya and his company, HP Kolya Pty Ltd, were ordered to pay $150,000 and $750,000 respectively, alongside an injunction that prevents both parties from providing or advertising tax agent or BAS services for the next 10 years.
Chief Executive Officer for The Tax Institute, Noel Rowland, said the judgement and scale of penalty imposed was indicative of the importance of completing the education requirements set out under the legislation.
In the May judgement, the Court found that the actions undertaken by Mr Kolya and his company in preparing, amending and lodgi…
The Federal Court of Australia has imposed the largest penalty to date for breaches of the Tax Agent Services Act 2009 (TASA). Mr Kolya and his company, HP Kolya Pty Ltd, were ordered to pay $150,000 and $750,000 respectively, alongside an injunction that prevents both parties from providing or advertising tax agent or BAS services for the next 10 years.
Chief Executive Officer for The Tax Institute, Noel Rowland, said the judgement and scale of penalty imposed was indicative of the importance of completing the education requirements set out under the legislation.
In the May judgement, the Court found that the actions undertaken by Mr Kolya and his company in preparing, amending and lodgi…