Tax scams to watch out for

Many of our members can spot crimes quickly, but sometimes it helps to get an update on the types of scams doing the rounds. Here are a few things to keep on the radar at tax time.

Tax season is here, which means it’s time to tally up those receipts and start preparing your return.

Millions of Australians are expected to get a refund this year, something that will no doubt be welcome news amid rising living costs and interest rates.

Unfortunately, tax scammers know people are in a rush to get that cash injection and are continuing to prey on busy people. While many Police Bank members are likely to be quicker than most at spotting a crime, we know you’re time poor. With that in mind, here are a few recent scams to keep an eye out for.

Impersonation scams

Have you recently had a call, voicemail, email or text message from someone claiming to be from the Australian Taxation Office (ATO)? Many of us have and they’re usually not legitimate.

In some cases, you may be promised a tax refund; in other cases, you’re told you have a large tax debt and need to take immediate action.

While some of these scams are easy to spot, fraudsters are increasingly using new methods that make their communications look real. For example, there have been recent reports of scammers sending out emails on what looks like official letterhead. They also use return addresses that closely resemble MyGov or the ATO.

The Tax Office is aware of these scams and said there are several signs you’re dealing with a scammer versus a true government tax agent. The Tax Office said it would not:

  1. Leave a pre-recorded message on your phone.
  2. Send a link to log in to your account via email or text message.
  3. Ask for personal information, including credit card details, via email or SMS.
  4. Make threats, such as immediate arrest.

What to do if you suspect a scam

If you suspect money has been taken out of your bank account illegitimately, let us know. 

You can also report scam activity to the ATO via ReportScams@ato.gov.au to help protect others.

Both the ATO and Scamwatch advise people not to engage – that means hanging up, deleting messages, blocking the sender and never clicking a suspicious link. If in doubt, you can call the Tax Office and ask on 1800 008 540.

Finally, it’s worth looking at the Scamwatch web page to see the latest scams doing the rounds and subscribing to the ATO’s scam alerts. While scammers are becoming more sophisticated, staying on top of their latest methods can help you and your family avoid falling victim.