Australian Tax Office blames influencers for promoting a scam that netted at least $1.2 billion

The Australian Tax Office has blamed influencers on social media platform TikTok for promoting a scam that netted at least $1.2 billion in fake GST claims.

The scam involved people acquiring an Australian Business Number before registering a fictitious business via their MyGov account.

Fraudsters would then submit a fake business activity statement, claiming they had spent a huge amount of money to set up the company, before applying for a 10 per cent GST refund from the tax office.

The ATO launched Operation Protego in April last year to pursue the fraud, which led to a series of raids across Melbourne, Sydney and Brisbane.

Federal police arrests have since led to the convictions of 10 fraudsters, with compliance action taken against more than 56,000 thousand people.

The ATO said it has prevented another $2.7 billion in attempted fraud.
Source: 9News

Leave a Reply

Your email address will not be published. Required fields are marked *