The Australian Taxation Office has executed more raids as part of a “zero tolerance” crackdown on GST tax fraud. 7NEWS
Watch the video above to see how you can save money on your tax return ... without committing tax fraudThe ATO launched raids this week with support of the Australian Federal Police, building on last month’s effort which targeted 19 individuals suspected of GST fraud involvement.
This week’s raids targeted five Sydney-based individuals, after the ATO last week warned offending Aussies to “come forward or face severe consequences”.Now Day, who is also ATO deputy commissioner, has another warning for fraudsters: “If you think you won’t be caught, think again ... there is no place to hide.”Another 40,000 individuals are currently under investigation, suspected of being involved in major GST fraud.
AFP commander of economic and corporate crime and corruption Christopher Woods said: “Every dollar fraudulently obtained represents lost funds that could have been used to benefit everyday Australians in our community.”GST fraud involves the invention of fake businesses and Australian Business Number applications, and submitting fictional business activity statements in an attempt to be paid a false GST refund.
Social media platforms have played “a key role in promoting this type of GST fraud” according to Day, who added that the taskforce has information sharing agreements in place and is working with social media platforms.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Three teenagers rescue five-year-old boy drowning in Sydney poolThree teenagers have been praised after rescuing a five-year-old boy in trouble in a pool in Sydney&x27;s west.
Read more »
Five key takeaways from the first Conservative leadership debateHere is what we learnt as the five challengers to be prime minister were tested for the first time on live television
Read more »
Three teenagers rescue five-year-old boy drowning in Sydney poolThree teenagers have been praised after rescuing a five-year-old boy in trouble in a pool in Sydney&x27;s west.
Read more »
'Transphobic' questions and legal challenges: Five things to know about the US abortion rights debateA law professor has confronted US Republican Senator Josh Hawley over a line of questions during an abortion hearing. Khiara Bridges highlighted the importance of inclusive language in the abortion rights movement. Watch the full video here:
Read more »
South Carolina lawyer Alex Murdaugh charged with murder of wife and sonCharges for prominent lawyer represent milestone in sprawling saga involving interlocking deaths and dozens of fraud charges
Read more »