GST fraud – keep an eye out for the unusual 

May 25, 2022

The ATO has stopped more than $770 million in fraudulent GST claims and has commenced recouping monies paid. Tax agents should be on the lookout for unusual transactions or requests for unusual advice from clients. You may also be contacted by clients who want your assistance, or some who may think that they’ve had their identity compromised.

ATO Deputy Commissioner and Chief of the Serious Financial Crime Taskforce Will Day said, “We are urging anyone involved to face the music and come forward now rather than face even tougher consequences later, including penalties and criminal charges.”