1. 30-10(7) - You must ensure that a tax agent service that you provide, or that is provided on your behalf, is provided competently
2. 20-5(1)(a) Individual has ceased to meet registration requirement that they are a fit and proper person

On 11 September 2025, after completing an investigation, the Tax Practitioners Board (TPB) decided to terminate the tax agent registration of Mr Denis Yeo. The TPB found that Mr Yeo had breached the Code of Professional Conduct (the Code) in the Tax Agent Services Act 2009 (TASA) and had ceased to meet the tax agent registration requirement under paragraph 20-5(1)(a) of the TASA that he must be a fit and proper person.

The TPB found that Mr Yeo breached Code 7 by failing to ensure that tax agent services provided by Mr Randolf Rindfleish, on behalf of registered company tax agents Coolah Tax & Accounting Pty Ltd (Coolah Tax) and Wollongong Business Accountants Pty Ltd (WBA), were provided competently and in accordance with the applicable taxation and other laws.

Mr Yeo’s failure to supervise and control the activities of Mr Rindfleish, through Coolah Tax and WBA, enabled Mr Rindfleish to misappropriate more than $900,000 from 58 separate clients between 2 July 2020 and 22 September 2023 by lodging business activity statements, income tax returns and JobKeeper forms on behalf of those clients under the respective tax agent registration numbers of Coolah Tax and WBA, then having the resulting refunds directed into bank accounts under Mr Rindfleish’s control.

The TPB also determined that Mr Yeo had ceased to meet the registration requirement under paragraph 20-5(1)(a) that he must be a fit and proper person, on the basis that he:
1. Engaged in conduct that breached subsection 30-10(7) of the Code in the TASA.
2. was responsible, in his capacity as sole director and supervising agent, for causing Coolah Tax and WBA to engage in conduct that breached subsections 30-10(1), 30-10(4) and 30 10(7) of the Code.
3. demonstrated a pattern of behaviour of failing to meet his obligations as the supervising agent for a registered company tax agent.
4. failed to have adequate oversight in his capacity as director and supervising agent to prevent the misappropriation of client ATO refunds by Randolf Rindfleish resulting in significant adverse impacts on those clients.
5. engaged in conduct that:
a. undermines the integrity of the taxation system and the professional standards expected of tax practitioners.
b. is of such seriousness that the TPB, Commissioner, clients and the public could not have confidence that Denis Yeo would perform his functions as a registered agent to the required standard of integrity and competence.
6. demonstrated a pattern of behaviour of failing to meet his obligations as supervising agent for two different registered company tax agents.
7. failed to maintain adequate oversight of the activities of those company tax agents in his capacity as director and supervising agent leading to a failure to prevent or detect the misappropriation of client ATO refunds by Randolf Rindfleish, resulting in significant adverse impacts on those clients.
8. engaged in conduct of such seriousness that the TPB, the Commissioner of Taxation, his clients and the general public could not be confident of Mr Yeo’s ability to perform his functions as a registered tax agent with integrity and competence, thereby undermining the integrity of the taxation system and the professional standards of the tax profession.

The TPB acknowledged Mr Yeo’s cooperation and engagement throughout the investigation, and his demonstration of genuine remorse for his failure to adequately supervise Randolf Rindfleish. The TPB considered that this shortfall in supervision and control enabled a malign actor to take advantage of the privileged role of tax practitioners within the tax system for personal gain. The TPB acknowledged that this had caused real and potentially lasting damage to the trusting clients of Coolah Tax and WBA, who were targeted by Mr Rindfleish.

The TPB decided that it was appropriate in these circumstances to terminate Mr Yeo’s tax agent registration pursuant to paragraph 40-5(1)(b) of the TASA. The TPB also decided to impose a period of three years from the date the termination of Mr Yeo’s registration takes effect during which he is prohibited from applying for registration, pursuant to subsection 40-25(1) of the TASA.

The TPB considered that it must take a very firm approach in cases of this nature to send a clear message to the practitioner community that failing to do the right thing and adhere to the Code, including ensuring the compliance of entities under the supervision of registered practitioners, will not be tolerated. The TPB considers that the effectiveness of, and public confidence in, the tax system relies heavily on registered practitioners being alert to the type of conduct engaged in by Mr Rindfleish and failure prevent such conduct can damage public trust in the integrity of the system.