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ATO Tax chiefs hunt down THOUSANDS of Aussies over a sneaky $1BILLION social media GST scam

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ATO Tax chiefs hunt down THOUSANDS of Aussies over a sneaky $1BILLION social media GST scam

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Tax chiefs hunt down 40,000 Aussies over a sneaky $1BILLION scam on social media which could land YOU in court – here’s what you need to know

  • Taxman has warned 40,000 Aussies who falsely claimed around $20,000 each
  • Scam is being spruiked on social media telling people to make the fake claims
  • Frauds are setting up sham businesses and ABN to claim false GST refunds

The Australian Taxation Office is cracking down on a near-$1billion fraud being spruiked on social media that involves people inventing fake businesses to claim GST refunds.

Operation Protego is probing potentially fraudulent payments made to about 40,000 Australians who have each claimed on average around $20,000 to scam about $850million.

The ATO is working with banks, the Reserve Bank and an AUSTRAC-led coalition of law enforcement and financial industry players to clamp down on the con.

It involves offenders setting up sham businesses and ABN applications then submitting fictional Business Activity Statements to get a false GST refund.

The Australian Taxation Office is cracking down on a near-$1billion fraud being spruiked on social media that involves people inventing fake businesses to claim GST refunds

ATO Deputy Commissioner Will Day told AAP in the last month alone the…

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