Save
Your tax agent might not be who they say they are
Scammers are targeting Aussie taxpayers by pretending to be the victim’s tax agent, the Australian Taxation Office has warned.
Your tax agent might not be who they say they are
Scammers are targeting Aussie taxpayers by pretending to be the victim’s tax agent, the Australian Taxation Office has warned.
According to ATO assistant commissioner Kath Anderson, the method saw scammers start a three-way phone conversation with the victim, the scammer and another scammer pretending to be the victim’s tax agent.
Scammers consider tax time a fertile period as taxpayers expect to be contacted by the ATO, and will often impersonate ATO staff as well.
“One recent example had a taxpayer unfortunately thinking the telephone conversation was legitimate, and ended up withdrawing thousands of dollars in cash and depositing it into a bitcoin ATM, fearing the police had a warrant out for his arrest,” Ms Anderson said.
“We are at the half-way point of tax time, and we’ve seen an increase in reports in recent months. In September we typically see these high volumes continue, so we are warning the community to be on the lookout for things that don’t look or feel quite right.”
While Australians are good at picking out scams, she warned that scammer sophistication is also increasing.
“One taxpayer received an email which appeared to be from the ATO. The email requested her to click a link to download her BAS for lodgement. Clicking the link ran malicious software which gave the scammer access to all data on her computer. She later found that her credit rating had been severely impacted as the scammers racked up large unpaid debts in her and her business’ name,” she said.
“Scammers aren’t just looking at getting a quick fix through an upfront payment. They are increasingly looking to get your personal information, and once they gain this data they can sell it or use it to impersonate you for their own financial gain,” Ms Anderson continued, warning that the appeal of a refund isn’t worth the costs of falling for a scam.
Fake tax debt phone scams are the most common this year, although fake refund scams are also growing in prominence.
“The cloned web addresses linked to scam emails are sometimes difficult to distinguish from ato.gov.au and the compromise of your personal information via this method may remain undetected with impacts only realised many months later,” Ms Anderson said.
However, there are some tell-tale signs. If a person purporting to be from the ATO uses aggressive, threatening or rude behaviour, they’re not from the ATO.
Similarly, the ATO will not ask for payment of a debt through iTunes, cryptocurrency or pre-paid visa cards, and will not request a fee in order to release a refund.
The ATO also won’t send an email or SMS asking the recipient to click on a link, open a file or download an attachment.
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
- 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.