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ATO investigates 40,000 Aussies over alleged tax fraud scheme

The ATO has more than 40,000 Australians in its sights, as it begins investigating what it says is a fraudulent scheme that’s cost the community around $850 million.

The scheme, promoted through numerous suspect social media platforms, encourages people to create fake businesses and submit false activity statements order to claim GST refunds. It is estimated that the average ‘refund’ has been in the order of $20,000.

Source: Mondaq

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