- 150 ATO officials have been investigated in a massive GST fraud crackdown.
- The investigation resulted in criminal proceedings and employment terminations.
- The fraud involved individuals acquiring an ABN and fabricating business expenses to claim false GST refunds.
- The scam spread through TikTok videos and resulted in $2 billion in false payouts.
- More than 100 arrests and 16 convictions have been made in relation to the fraud.
- The ATO has recouped $123 million of the refunds and administered additional penalties of $120 million.
- Some Australians had their identities stolen to participate in the scam.
- More than 57,000 people are considered participants in Operation Protego.
- The ATO has agreed to reform recommendations.
Source: smartcompany.com.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
