Posts tagged "gst scam"

The ATO currently has about $50 billion worth of collectible debt, which is the highest it's ever been. It’s an 89% increase on pre-COVID figures. 

A Mildura man who received $837,000 from the Australian Taxation Office (ATO) using 'TikTok GST scam' has been sentenced to 7.5 years of jail time.

The GST scam that went viral on TikTok continues to get worse as the ATO admits that it had to payout double what it initially reported.

Cryptocurrency gains, work-from-home deductions, rental income, and record keeping are the four areas in the ATO's sights as we approach the end of the financial year.

The con involved creating a sham business and ABN application, and then submitting falsified business activity statements to receive a fraudulent GST refund.