Save
Over $800,000 lost in tax scams in November
The ATO has reported it received more than 37,000 reports of scam attempts last month, with scammers impersonating tax officers.
Over $800,000 lost in tax scams in November
The ATO has reported it received more than 37,000 reports of scam attempts last month, with scammers impersonating tax officers.
As a result, over $800,000 has reportedly been lost to scammers over the month of November alone.
According to assistant commissioner Kath Anderson, victims are being targeted by scammers using software that makes their phone numbers appear legitimate in order to hide their identity.
“The ATO does not project our numbers using caller ID. You can be confident that if there is a number displayed in your caller ID, it isn’t the ATO,” she said.
“Taxpayers should be wary of any phone call, text message, email or letter about a tax refund or debt, especially if you weren’t expecting it.”
She said a few tell-tale signs that a caller may not be legitimate include if they are rude, aggressive or threatening; if they request payment of debt via iTunes, prepaid visa cards, cryptocurrency or direct credit to a bank account with a BSB that isn’t either 092-009 or 093-003; if they request payment to release an owed refund; or if they send an email or SMS asking you to click on a link provided to login, offer your personal or financial information, or download a file or attachment.
She said Australians who suspect they may have been contacted by a scammer posing as an ATO representative should call the ATO call centre on 1800 008 540.
“While phone scams are the most common at the moment, scammers are constantly changing tactics. Taxpayers should still beware of unsolicited emails and SMS, with more than 6,000 people handing over their personal or financial information to scammers since July this year,” she said.
“Taxpayers play an important role in stopping scammer activity by reporting them to our scam line. Your reports help us to get an accurate picture of what is happening with the current scams, which ultimately helps protect the Australian community.”
The ATO offers the following helpful tips for consumers to protect themselves from scammers:
- Know your tax affairs – log into myGov to check your tax affairs, or contact your tax agent or the ATO.
- Protect your personal and financial information – be wary when clicking on links, downloading files or opening attachments. Only give your personal information to people you trust, and don’t share it on social media.
- If you are unsure about whether a call, text message or email is genuine, don’t respond. Call the ATO on 1800 008 540.
- Know the legitimate ways to make payments – scammers may be threatening to push victims into paying false debts with prepaid gift cards or by sending money to non-ATO bank accounts. To check whether a payment method is legitimate, visit gov.au/howtopay
- Talk to your family and friends about scams – if you or someone you know has fallen victim to a tax related scam, call the ATO as soon as possible.
Learn more on tax scams as Nestegg's features ATO issued an warning to taxpayers to keep an eye on different tax scams this tax season.
RELATED ARTICLES
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
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. Read more
Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. Read more
Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. Read more
Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. 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
Advocates call for an end to tax cuts
Social services sector advocates have warned that further tax cuts may make solving Australia’s biggest challenges much harder. Read more
Tax saving
ATO and AUSTRAC may gain new phone-tapping powers
A proposed update to electronic surveillance legislation could see the ATO armed with new powers that would allow the agency to bug phones and intercept online communications. Read more
Tax saving
Over 2m Aussies asked the TPB for help during the last year
As the economy recovers, Australia’s tax regulator says it’s planning to put unregistered practitioners under the microscope. Read more
Tax saving
Will you pay higher taxes due to bracket creep?
Bracket creep will see Australians paying more tax on average, unless further cuts are introduced in the future. Read more
More articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- ACE25 The Accounting Conference and Exhibition
- Adviser Innovation Summit
- 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
- Australian Wealth Management Awards
- Australian Wealth Management Summit
- Better Business Awards
- Better Business Summit
- Broker Innovation Awards
- Broker Innovation Summit
- Budget Summit
- Commerical Finance Awards
- Corporate Counsel Summit
- Defence & National Security Workforce Awards
- Fund Manager of the Year Awards
- ifa Excellence Awards
- Lawyers Weekly 30 Under 30 Awards
- New Broker Academy
- Partner of the Year Awards
- Partner Summit
- REB Awards
- Rising Star Awards
- SME Bootcamp
- SMSF Technical Strategy Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Finance Summit
- Women in Law Awards
- Women in Law Forum
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.