Save
Scam alert: Elderly Aussies at risk of tax scams
The Tax Office is reminding Australians that they will not ask for payment via iTunes credit cards as scammers make the most of tax season.
Scam alert: Elderly Aussies at risk of tax scams
The Tax Office is reminding Australians that they will not ask for payment via iTunes credit cards as scammers make the most of tax season.
Taxpayers should be cautious of any unexpected texts, emails, letters or phone calls about tax refunds or debts, the Australian Taxation Office (ATO) has said, encouraging Australians to look out for elderly and vulnerable members of their community.
While the ATO does increase communication at this time of year, some red flags for scams are aggressive or rude behaviour, threats of jail or deportation, requests for payment via iTunes, cryptocurrency or pre-paid visa cards to accounts with BSBs that aren’t 092-009 or 093-003.
Additionally, the ATO won’t request fees for release of refunds owed and won’t send emails or text messages with requests for taxpayers to either download, or click on links and provide personal information.
“Scammers are busy all year round, but we always see an increase in activity at tax time. In fact, more than 37,000 scam attempts were reported to the ATO during tax time last year,” assistant commissioner Kath Anderson said this morning.
“Although many people were alert and didn’t fall for the scams, hundreds handed over a total of more than $630,000, and thousands handed over their personal details.
“The most common scam is still the ‘fake tax debt’ phone scam, but we’re seeing an increase in ‘fake refund’ or ‘refund for a fee’ scams, email and SMS scams taxpayers also warned on fake myGov email scam enticing people to click a hyperlink, download a file or open an attachment.
She said scammers attempt to take advantage of the fact that most taxpayers expect to interact with the ATO at this time of year.
Elderly and isolated Australians are particularly at risk, Ms Anderson said, calling on the community to look out for each other.
Describing personal information as the “keys to your identity”, she said scammers will use a range of tactics to prompt victims to divulge this information.
“They may get money up front by pressuring you into paying a fake debt or by tricking you into paying a fee to have a refund released,” Ms Anderson warned.
“They may also get you to click on a link to divulge your login, personal or financial information, or to download a file or open an attachment which enables them to access your data. Once they have your data, they can either sell it or use it to impersonate you for financial gain.”
The “fake refund” scam can carry particularly high costs
In this scam, taxpayers may receive a text purportedly from the ATO advising them that a sizeable amount will be refunded upon payment of a nominal sum.
In one instance, the victim provided bank details through the included hyperlink and paid the small fee.
“Three days later an amount of $18,000 was fraudulently withdrawn from his bank account,” Ms Anderson said.
The lesson for taxpayers is that while “anyone can be a target”, not everyone needs to be a victim.
Ms Anderson said engagement with tax via the MyGov website and a healthy distrust of requests for taxpayers to download or click links will offer some protection. Likewise, unsure taxpayers can check to see if they’re the target of a scam by calling the ATO on 1800 008 540.
“We encourage everyone to play their part in stopping scammers by reporting them to our scam line. Your reports help us refine our approach to dealing with scams, which in turn protects the Australian community,” she said.
RELATED ARTICLES
Tax saving
$20,000 instant asset write-off extension welcomed, but calls for broader support grow
The Australian government's decision to extend the $20,000 instant asset write-off into the next financial year has been met with approval from business leaders. However, there are growing calls for ...Read more
Tax saving
The downsizer dividend: How targeted tax levers could unlock housing supply in Australia
A call by Raine & Horne to incentivise seniors to move to smaller homes has kicked off a wider policy conversation that reaches well beyond real estate. If designed well, a targeted package could ...Read more
Tax saving
Raine & Horne's bold move could unlock housing supply but what are the hidden risks
Raine & Horne’s call for targeted tax incentives to encourage empty nesters to ‘rightsize’ isn’t just another sector wish list; it’s a potential lever to free up family homes, ease rental ...Read more
Tax saving
From annual check-ups to always‑on: how modern portfolio reviews unlock after‑tax alpha
The era of once‑a‑year portfolio check‑ins is over. Continuous, tech‑enabled reviews now drive returns through tax efficiency, risk control and behavioural discipline—especially in a high‑rate ...Read more
Tax saving
Navigating tax laws for capital gains in 2023
The landscape of Australian tax laws surrounding capital gains is ever-changing, with 2023 being no exception. Read more
Tax saving
What you need to know about the tax implications of crypto
One million Aussies are now invested in crypto, but many have not thought about how these investments will affect them at tax time. Read more
Tax saving
Welfare overhaul could give recipients a leg-up
Australia’s Centrelink recipients who’ve been doing it tough are in for a potentially easier time if the federal government pursues ambitious reforms that could provide sturdier safety nets. Read more
Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. Read more
Tax saving
$20,000 instant asset write-off extension welcomed, but calls for broader support grow
The Australian government's decision to extend the $20,000 instant asset write-off into the next financial year has been met with approval from business leaders. However, there are growing calls for ...Read more
Tax saving
The downsizer dividend: How targeted tax levers could unlock housing supply in Australia
A call by Raine & Horne to incentivise seniors to move to smaller homes has kicked off a wider policy conversation that reaches well beyond real estate. If designed well, a targeted package could ...Read more
Tax saving
Raine & Horne's bold move could unlock housing supply but what are the hidden risks
Raine & Horne’s call for targeted tax incentives to encourage empty nesters to ‘rightsize’ isn’t just another sector wish list; it’s a potential lever to free up family homes, ease rental ...Read more
Tax saving
From annual check-ups to always‑on: how modern portfolio reviews unlock after‑tax alpha
The era of once‑a‑year portfolio check‑ins is over. Continuous, tech‑enabled reviews now drive returns through tax efficiency, risk control and behavioural discipline—especially in a high‑rate ...Read more
Tax saving
Navigating tax laws for capital gains in 2023
The landscape of Australian tax laws surrounding capital gains is ever-changing, with 2023 being no exception. Read more
Tax saving
What you need to know about the tax implications of crypto
One million Aussies are now invested in crypto, but many have not thought about how these investments will affect them at tax time. Read more
Tax saving
Welfare overhaul could give recipients a leg-up
Australia’s Centrelink recipients who’ve been doing it tough are in for a potentially easier time if the federal government pursues ambitious reforms that could provide sturdier safety nets. Read more
Tax saving
Students should think twice before tapping into their super
Former students might want to think carefully before they look to take advantage of the federal government’s biggest first home buyer incentive. Read more
More articles
OUR PLATFORMS AND BRANDS
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Australian Accounting Awards
- Australian AI Awards
- Australian Aviation Awards
- Australian Aviation Summit
- Australian Broking Awards
- Australian Cyber Awards
- Australian Cyber Summit
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Law Forum
- Australian Space Awards
- Australian Space Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Lawyers Weekly 30 Under 30 Awards
- Commerical Finance Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
PODCASTS
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.