- Increase in attempted GST refund fraud
- New taxpayer alert issued warning against fraudulent GST refund claims
- Fraud involves collusion between related businesses to create fake invoices
- Predominantly seen in property and construction industry
- Also spreading to other industries, especially among privately owned and wealthy groups
- Common features include false invoicing, misaligned GST accounting, duplicate claims, false purchase claims, and use of straw directors
- Not related to Operation Protego involving fake businesses
- Authorities intercept suspicious claims to prevent unfair advantage
- Public encouraged to report any fraudulent activities observed
Source: ato.gov.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.
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