Save
Watch out: ATO warns of email scam
The Australian Taxation Office is warning customers of scammers posing as the ATO, marking the seventh ATO scam in less than a year.
Watch out: ATO warns of email scam
The Australian Taxation Office is warning customers of scammers posing as the ATO, marking the seventh ATO scam in less than a year.
The scammers are emailing people and telling them to fill in an online “tax form”, features a sender address distinct from, but similar to @ato.gov.au and does not include the recipient’s name.
However, it does “misleadingly” include the ATO logo, bad grammar and an active link which does not direct to an ato.gov.au address.
Additionally, the ATO said the mygov email scam will most likely be “unexpected” to the recipient.
The office advised those who have received the email to forward the email to
How to spot a scammer
The ATO said there are four “telltale signs” people can use to determine if an email is a scam.
1. Is it abusive or threatening?
The tax office said it “will not act in an abusive or offensive manner or threaten you with immediate arrest”.
2. Is it demanding immediate payment?
The ATO said it will not ask customers to transfer money into accounts with BSBs that are not held with the Reserve Bank of Australia, nor will it ask for payment through “unusual methods” like gift cards or prepaid cards.
Further, it said it does not ask customers for money as a prerequisite to a refund, and will not remain on the phone with customers as they visit a bank, post office or shops to complete a payment.
3. Is it contacting you over email, social media or text?
“We won't use email, text messages or social media to ask you to: update or provide personal information, supply your TFN, credit card or bank details [or] send you downloadable files or tell you to install software,” the ATO said.
However, it will use email and text messages asking customers to contact the ATO by phone to verify account changes or to provide additional information on BAS or GST enquiries, tax returns or lodged applications.
4. Is it too good to be true?
Received an offer to “unlock” your super early? Or have you been approached for investments which require quick action before the offer ends? Chances are the investment or offer is illegitimate.
“Always check the details of these schemes with your registered financial adviser or someone you trust. If something appears too good to be true, it probably is.”
In December last year, $7.6 million was lost to scammers of all types – not just those posing as the ATO. Investment schemes saw victims lose the most money, $2.9 million, followed by dating and romance scams, $1.2 million and threats to life, arrest or other, $980,000.
That $7.6 million meant $89.4 million was lost to scams over 2017 as a whole, up $5.8 million on the 2016 figure.
While investment schemes caused the most harm in 2017 ($31.2 million), dating and romance schemes wreaked the most havoc in 2016 ($25.5 million).
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
- Accountants Daily 30 Under 30 Awards
- ACE25
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.