As we enter a new financial year, authorities are urging Australians to stay vigilant against tax scams.
This year, there has been a notable increase in impersonation scams targeting individuals. During tax time, people are more likely to interact with financial and government agencies, including the Australian Taxation Office (ATO). Scammers exploit this heightened activity by posing as ATO representatives, sending fraudulent emails and texts, or making phone calls to steal personal information and money from hardworking Australians.
Small and medium businesses are particularly vulnerable due to the increasing sophistication of AI-powered scams, which makes identifying scam attempts more challenging.
We highly recommend reading this article by Accountants Daily, which outlines the top four scams to be aware of this financial year (FY23/24) and provides tips on how to avoid falling victim to them.
Kind Regards,
Eric Cirulis
Director/CEO