Australians Pay $107,000 To Tax Scams

The ATO has been made aware of fake tax agents who are conning members of the public and making them believe that they owe debt.

The scam has taken the form of a cold-call, with fraudsters phoning victims and convincing them into giving information about their finances and current tax agent.

The fraudsters then typically begin a three-way call, adding a third person who impersonates the victim’s usual tax agent.

This scam has resulted in a number of Australians being fooled into depositing up to thousands of dollars into bank accounts held by scammers.

In some cases, the fake agents have asked victims to deposit their funds into Bitcoin ATMs or in iTunes gift cards.

According to the ATO, in July alone, Australians lost more than $107,000 to tax scams.

If you do receive a call from the ATO, the best way to avoid being scammed is to request that they post you a copy off the agreed payment arrangement, showing the available payment methods. If in doubt, please contact us so that we can confirm the balance owing and correct payment details for you.

If you believe you have been scammed, it is vital that you contact the tax office and report the situation.

Emily Kermac, Partner, Paris Financial