ALL QUESTIONS NEEDS TO BE ANSWERED UNDER AUSTRALIAN TAXATION RULES

1. Tax Agents-False and misleading statements Randy Michaels has prepared an Income tax return for Shady Pty Ltd from the company's records. The managing director of Shady Pty Ltd is furious that the company has a tax liability of $180,000 and tells Randy that if he doesn't reduce the tax liability by at least $60,000 then he will not pay Randys fee and tel other dients that they should use another accountant. What are the potential consequences of Randy agreeing to falsify the return? Refer to who is liable for any penalties, as well as Randy's continued registration. Would your answer be any different if Shady's directors agreed to provide Randy with an amended set of accounts along with a Statutory Declaration stating that they would accept full responsibility for the adjusted taxable income