Crackdown on GST-Fraud Promoters

Hello Chasers,

If you have been reading the news recently you will have read about the raft of enforcement activity being undertaken across the country by the ATO-led Serious Financial Crime Taskforce, including the execution of search warrants and issuing of warning letters.

Tax fraudsters are in the ATO sights, and they will be caught!

On 31 December 2022, the ATO took compliance action on more than 53,000 taxpayers and stopped approximately $2.5 billion in fraudulent GST refunds from being paid to individuals seeking to defraud the system.

Two individuals have been sentenced to jail time for their crimes so far, following their arrest in 2022.

This follows 87 earlier arrests across the country, with many more to come. The ATO has commenced writing to more than 20,000 individuals involved in the fraud, warning them of the serious consequences coming their way unless they come forward and repay the money they have defrauded.

Click here to read more …

Read more of our daily blogs in our Chasing the Dream Facebook Community

Share This

Related Posts

Featured
4 Min Read

Storing Your Business Systems & Processes

Hello Chasers, The quarterly theme for the next 90 days is ‘Simple Systems’. So, you understand the importance of creating and building systems for your business but where do you place them so that they are…
Read Full Article
Featured
4 Min Read

When Can You Access Your Superannuation Early in Australia?

Hello Chasers, Superannuation is designed to provide a comfortable retirement, but there are specific circumstances where you can access it early. This article focuses on accessing your super on compassionate grounds, managed by the Australian Taxation…
Read Full Article