Former PwC boss Tom Seymour fined $25,000 and banned over tax leak scandal

Former PwC Australia boss Tom Seymour has been fined just $24,757 and banned from accounting for four years over his role in the firm's tax information scandal.

Mr Seymour attempted to resign from CA ANZ after the Tax Practitioners Board made scathing findings regarding his time as PwC boss. Picture: Lyndon Mechielsen

Chartered Accountants ANZ has fined former PwC Australia boss Tom Seymour $24,757 for his part in the firm’s tax-leaks scandal, drawing a stinging rebuke from Greens senator Barbara Pocock, who called it a “wet tickle for the secret sharing of government information”.

Instead of its maximum $50,000 fine, CA ANZ handed Seymour a $15,000 penalty plus a further $9757 in fees, after accepting his proposed penalty earlier this year.

The decision, made on November 20 but only published on Tuesday, comes almost two years after Seymour first resigned from PwC.

CA ANZ’s maximum penalties were boosted to $50,000 in 2023 in response to the PwC tax scandal.

The accounting body, one of three that covers the sector, found the fines against Mr Seymour balanced the public interest, the reputation of CA ANZ, and the need to “support the integrity of the profession”.

Mr Seymour, who has been contacted for comment, left PwC after the firm was revealed to have misused confidential government tax briefings to strike up new strategies for clients in a bid to front-run new laws.

The latest decision comes after Mr Seymour attempted to resign from CA ANZ in July, on the same day the Tax Practitioners Board made scathing findings regarding his time as PwC boss.

The TPB found Mr Seymour failed to act with integrity and did not properly manage conflicts of interest. CA ANZ found Mr Seymour co-operated by agreeing to a sanction.

It also noted the “significant exclusion period imposed by the TPB” and that Mr Seymour was in “good financial standing with no previous disciplinary history”.

Senator Pocock branded CA ANZ’s penalties against Mr Seymour as a “wet tickle for the secret sharing of government information”.

“This behaviour clearly deserves the highest possible fine,” she said.

“If this didn’t warrant the maximum fine from CA ANZ – what will?”

A CA ANZ spokeswoman said the group’s by-laws allowed it to “hold our members to account”.

“Our independent disciplinary bodies work carefully to deliver their important function,” she said.

“Outcomes from regulatory bodies provide important information for disciplinary investigations.”

Former PwC head of international tax Peter Collins at his home in Sandringham. Picture: Luis Enrique Ascui

Senator Pocock also questioned why CA ANZ had been so slow moving in making a decision regarding Mr Seymour.

“It’s taken a long time to get to this point,” she said.

“The idea that a chief executive ... has been slapped with a mere $15k fine for their role in the PwC tax leaks scandal, is just gobsmacking.”

CA ANZ defended its slow progress dealing with the complaint concerning Mr Seymour, noting it had been set against a time frame “that allowed other regulatory bodies to complete their investigations”.

“In this instance the Tax Practitioners Board completed its investigation and made its findings public in September 2025,” the spokeswoman said.

“The Disciplinary Tribunal’s finding clearly outlines its view of Mr Seymour’s conduct, and while the tribunal’s suspension sanction is aligned to the TPB determination, it also adds a fine and the removal of his fellowship.”

Mr Seymour, who first joined CA ANZ in 1997, was found to have failed to question the source of information that was shared with him on several occasions between August 2014 and January 2016.

This came at the same time PwC’s former head of international tax Peter Collins was engaged in confidential consultations with Treasury over proposed tax laws aimed at stopping multinational companies offshoring profits.

CA ANZ has failed to take disciplinary action against others connected to the scandal, including Mr Collins, who was allowed to cancel his membership despite being under investigation.

CA ANZ previously fined PwC $100,000 over the tax scandal.

Mr Seymour previously told The Australian he had not been aware of confidential information being inappropriately shared within the firm.

“In fact, when I first became aware of this possibility, I immediately raised it with PwC’s legal and risk teams, and requested they investigate it,” he said.

“I was advised verbally, and in writing, that the issue was investigated and no breach of confidentiality had occurred.”

Former PwC chief executive Luke Sayers has also denied knowledge of the leaks of confidential information, previously telling parliamentary committee hearings he had not been alerted to the issue.

However, this sits at odds with evidence from others, including PwC’s former general counsel Meredith Beattie and Australian Taxation Office second commissioner Jeremy Hirschhorn. Both claim Mr Sayers was warned PwC had an issue. No findings have been made.

An Australian Federal Police investigation into the tax scandal remains under way, having been launched after the matter was referred to them in May 2023.

Originally published as Former PwC boss Tom Seymour fined $25,000 and banned over tax leak scandal