Perth-based accountant sentenced to 4 years in jail for tax fraud

As an employee of Finkelstein Hickmott, between May 2016 and July 2017, Shane Read lodged 21 of his clients' income tax returns without authorisation, and accessed four of his clients' credit account balances resulting in the wrongful payment of tax refunds into his own bank account, the ATO said.

"After a pre-issue audit by the ATO of an unauthorised BAS lodgment, which contained false information in a further attempt to obtain funds from the ATO, it was discovered Mr Read obtained a financial advantage committing fraud in the name of unwitting clients," the Tax Office explained.

Read was busted altering the bank account details of his clients to divert ATO refunds to his personal bank account, without his clients' knowledge.

ATO assistant commissioner Tim Roach welcomed the sentence and said it reflected the serious nature of Read’s crimes.

"Tax and BAS agents, accountants and other trusted advisers have a critical role as intermediaries, conduits and influencers of behaviour in the tax and superannuation system.

"The ATO has a strong commitment to protecting honest taxpayers by identifying and prosecuting any tax agents who abuse their position of trust by either conspiring with or against their clients to defraud the tax system," Mr Roach said.

"We welcome this sentence handed down today and we will continue to work with tax professionals to ensure the integrity of the system and to protect honest tax professionals and the community from these types of crimes," he concluded.