ATO warning over 'deluge' coming for taxpayers in coming weeks: 'Catch you off-guard'
Australians are being warned to watch out for tax scam emails and text messages designed to catch you off guard. Tax time is just around the corner and scammers are already trying to take advantage of the situation.
The Australian Taxation Office (ATO) has reported a 300 per cent increase in impersonation scam emails from this time last year. It said it generally sees more reports around this time, as scammers know this is when you expect to hear from it.
CPA Australia tax lead Jenny Wong said Aussies should prepare for a 'deluge of scam activity' ahead of June 30.
RELATED
ATO capital gains tax warning as Aussies caught doing the wrong thing: 'Focus area'
Rare $1 coin worth 10 times more due to 'unfortunate' detail
Major Coles move to take on Chemist Warehouse, Bunnings, Amazon
'Scammers take advantage of any situation, and at tax time that means targeting unsuspecting individuals through unsolicited messages claiming to be the ATO or another reputable organisation,' she said.
'These 'phishing' scams not only look legitimate, but they're designed to catch you off-guard. That's why you'll often see them arrive first thing in the morning because you may be more likely to have a momentary lapse in judgement.'
The ATO said scammers would send fake messages trying to trick people into handing over their personal information.
'Once they have your details, they can steal your identity and commit fraud in your name,' it said.
'They know you're busy and probably distracted wrapping up end of financial year, so they'll ask you to respond quickly hoping you don't verify the interaction.'
Australians lost $119 million to scams in the first four months of 2025, according to Scamwatch data.
This was despite the overall number of scam reports dropping by nearly a quarter to 72,230.
Phishing scams accounted for $13.7 million in losses, nearly tripling compared to $4.6 million in early 2024.
ATO tax scams will usually create a sense of urgency or claim you are owed a significant refund, Wong said.
Scam emails seen by CPA Australia include titles like: 'Urgent new notification in your account inbox' and 'New Tax Lodgement'.
They usually direct you to log into your myGov account and claim to provide a secure link for you to click.
They may try to trick you into clicking links to see 'official government correspondence', an 'update regarding your benefits', a 'new refund notification' or say you need to click to 'avoid being penalised'.
The ATO does not use hyperlinks in unsolicited SMS messages, so if you see this, it is likely a scam.
The ATO will also never ask for passwords, account numbers or other sensitive data via email or SMS.
If you are unsure about a message, contact the ATO on 1800 008 540 or visit verify or report a scam.Fehler beim Abrufen der Daten
Melden Sie sich an, um Ihr Portfolio aufzurufen.
Fehler beim Abrufen der Daten

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Aussie billionaires slam $3 million superannuation tax change: 'Fundamentally abhorrent'
Australian billionaires have hit back at the government's $3 million superannuation tax change, with the country's richest woman warning it could force the rich to move their assets out of the country. Wealthy Aussies have already begun 'panic' selling to avoid the change due to come into effect from July 1. The superannuation tax change will double the existing tax rate from 15 to 30 per cent on earnings on super balances above $3 million, including unrealised capital gains. The government estimates the changes will only impact 80,000 people, or 0.5 per cent of the population, but some in this small minority aren't happy about it. Gina Rinehart, the mining magnate worth $38.1 billion, said the new tax could be seen as a positive in 'some circles' but warned taxing unrealised wealth had led the rich to abandon assets in other countries. RELATED $3 million superannuation tax change sparks property warning as 'panic' selling begins $1,831 Centrelink payment change coming within weeks: 'You'll get more' Australia's most in-demand jobs revealed with $125,000 salaries up for grabs: 'Short supply' 'Will the money stay in their super fund to be so extra taxed? Similar tax schemes in Norway and France led to billions in capital fleeing those economies,' Rinehart told The Australian Financial Review. 'This doesn't seem a very well-thought-out scheme, to get more tax revenue, to me.' Jack Cowin, the fast-food mogul behind Hungry Jack's and majority shareholder of Domino's Pizza, worth $4.7 billion, said he was worried the tax could extend beyond superannuation. 'The biggest danger for a high-spending government is the threat that this practice gets extended on to other investments and could even include housing, in search of funding,' he told the publication. One of the controversial aspects of the tax change is that it would apply to unrealised capital gains. This refers to the growth in the value of an asset or investment that investors have but haven't cashed in yet, so it is a paper gain. Nick Wakim, the Phoenix Lithium founder worth $1.2 billion, labelled taxing unrealised gains as 'fundamentally abhorrent', while Sam Beck, the managing director of Beck Property Group, called it 'ludicrous'. Treasurer Jim Chalmers has stood by the tax, which was first announced by the government at the beginning of 2023. Speaking on a podcast with Michelle Grattan this week, Chalmers said it was a 'modest change' and said it would help fund priorities, including Medicare and tax cuts. He said the inclusion of unreleased gains was 'the best, simplest way to go about it', according to Treasury advice. Chalmers said it was incorrect to assume the $3 million threshold wouldn't ever change, with some calling for it to be indexed so it doesn't capture more and more taxpayers over time. 'I understand the argument. There are so many instances in the tax system where thresholds aren't indexed, and from time to time governments take decisions to raise those thresholds," he said. "I'm anticipating that that is what would happen here." It comes as Gina Rinehart tops the AFR Rich List for the sixth year in a row, despite a 6 per cent drop in her fortune due to lower iron ore prices. Australia now has 161 billionaires, up from 150 in 2024. The country's wealthiest 10 people control $202 billion among them, dropping 9.2 per cent from $222 billion last year. Here are the top 10 richest people: Gina Rinehart $38.1 billion Harry Triguboff $29.7 billion Anthony Pratt and family $25.9 billion Scott Farquhar $21.4 billion Clive Palmer $20.1 billion Melanie Perkins and Cliff Obrecht $14.1 billion Michael Dorrell $13.9 billion Ivan Glasenberg $13.3 billion Nicola Forrest $12.8 billion Kerry Stokes $12.7 billionErreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données
Yahoo
2 hours ago
- Yahoo
Millionaire's major superannuation warning for young Aussies: 'Should be worried'
Mark Bouris has sounded another alarm for young Australians about their superannuation. The financial expert previously cautioned that people in their early 20s today will likely have to work well into their 70s or even 80s because they won't be able to squirrel enough away to retire. But now the Yellow Brick Road executive chairman has warned this issue will only be made worse by Labor's plan to tax super balances over $3 million. Bouris said those entering the workforce now will get a rude shock when they get into their 60s. "Every young person in the country should be worried about this," he said on his podcast. Mark Bouris issues blunt retirement message for young Australians Centrelink cash boost coming from July 1 for millions of Aussies Aussie teen's job paying $300 per hour without a uni degree The government wants to double the existing tax rate from 15 to 30 per cent on earnings on super balances above $3 million, including unrealised capital gains. Balances up to $3 million would be taxed at 15 per cent, and anything over that would get hit with the new 30 per cent rate. Labor believes this will only affect around 80,000 people today and is designed to target the ultra-wealthy. According to the ATO, the average person with more than $3 million in superannuation right now is earning roughly $381,000 per year. Deloitte figures from June last year showed the average super balances for Aussies aged 60 to 64 was $401,600 for men and $300,300 for of the biggest criticisms of the proposal is that, at the moment, the $3 million benchmark won't be indexed. Treasurer Jim Chalmers indicated it could be indexed in the future, but many are worried about what will happen if it doesn't. "Every old person in the country has experienced building their superannuation up with only 15 per cent tax rate from day one for the last 30 to 40 years," Bouris said. "All of us had this fantastic low-tax situation with the money we earn for super fund. "Young people who accumulate more than $3 million worth of assets, they will not have the same benefits that everyone else has had since [Paul] Keating introduced this legislation." Former Prime Minister Keating reportedly fears Labor's proposal could "damage confidence" in the near $4 trillion nest egg system he created. Having $3 million in your super account might seem like a pipe dream for many young Australians right now. But that could soon be the norm in the next few decades. AMP Capital deputy chief economist Diana Mousina discovered that at least half of Gen Z workers would hit that mark by the time they neared retirement in about 40 years due to wage inflation and compound interest. 'An average 22-year-old today earning average wages for the rest of their life will breach the $3 million limit unless the government indexes the threshold," she said. 'This is also not taking into account any additional contributions into super and forward estimates for returns are also conservative.' Bouris fears the plan could put more pressure on government services because people aren't able to retire due to their balances being taxed at a much higher level. While some of Australia's billionaires have hit out at the proposal, policy thinktanks have backed it. Australian Institute economist Greg Jericho disputed Mousina's figures and came up with a different result. He suggested an 18-year-old who got a job today at the average full-time wage of $106,277 per year, who received a 3.7 per cent wage rise every single year for their life, without a single break in their working life until they hit 67, would end up with roughly $2.1 million in their super account. "The fear about not indexing the $3 million threshold is just a scare campaign designed to make people think they will be hit, even though they are only 30 years old now, because maybe they might one day have that much super," he said. The Grattan Institute, meanwhile, said the plan "should be just the first step to reining in excessively generous tax breaks" in the superannuation system. It echoed Jericho in saying fears that millions of young Aussies could be affected "are simply nonsense". "Rather than being the biggest losers from the lack of indexation, younger Australians are the biggest beneficiaries," it said. "It means more older, wealthier Australians will in time shoulder some of the burden of budget repair and an ageing population that younger generations will otherwise bear alone." Mintwell financial adviser Josef Jindra told Yahoo Finance the "vast majority" of people won't be affected by the plan and there's "no cause for alarm" at the moment. But he admitted that would change over the years, and it's worth getting ready for that eventuality. 'It's about being proactive and exploring ways to manage their retirement savings effectively,' he said. 'This may include planning withdrawal strategies to stay below the threshold, diversifying investment holdings outside of superannuation to enhance flexibility, and reducing exposure to the higher tax rate. 'Estate planning has also become increasingly important to ensure assets are structured in a tax-effective way for future beneficiaries. "For some clients—particularly those seeking greater control—we're also considering Self-Managed Super Funds (SMSFs) and the strategic opportunities they present.'Error in retrieving data Sign in to access your portfolio Error in retrieving data


Boston Globe
3 hours ago
- Boston Globe
Hong Kong outlaws video game, saying it promotes ‘armed revolution'
The game was removed from Apple's app store in Hong Kong on Wednesday, but remains available elsewhere. Advertisement But it had already been out of reach for many gamers. It was never available in mainland China, and earlier this month Google removed Reversed Front from its app store, citing hateful language, according to the developers. ESC Taiwan is a group of anonymous volunteers who are outspoken against China's Communist Party. Their products, which include a board game released in 2020, are supported by crowdfunded donations. The developers said that the removal of the game demonstrated how mobile apps in Hong Kong are subject to the type of political censorship seen in mainland China. 'Our game is precisely accusing and revealing such intentions,' the group's representatives said in an email. In social media posts, they also thanked authorities for the free publicity and posted screenshots of the game's name surging in Google searches. They said the comments and pseudonyms selected by players in the game would not be censored, whether they were in support or in opposition of the Communist Party. Advertisement In its statement, Hong Kong police said the game promoted 'secessionist agendas' and was intended to provoke hatred of the government. They said that publishing, recommending, and downloading the game, or supporting the online campaigns that funded it, could amount to sedition and incitement to secession under the national security law in Hong Kong, offenses that can lead to jail sentences. This is not the first time a video game has been used as an avenue for political protest that has incurred the wrath of Chinese authorities. Animal Crossing, an online game in which players could build elaborate designs of their own island, was removed from mainland China after players began importing Hong Kong protest slogans into the game. Even though virtually all forms of dissent in Hong Kong have been quashed, the national security dragnet in the city continues to widen. Authorities have made widespread arrests under the law, which was imposed five years ago in the wake of massive pro-democracy protests. Last week, Hong Kong authorities laid new national security charges against Joshua Wong, one of the city's most prominent young activists. Wong is serving the prison sentence of another national security charge that ends in January 2027. Authorities last month charged the father of Anna Kwok, an outspoken activist living in Washington, D.C., accusing him of helping handle her financial assets. Kwok is on a list of people overseas wanted by the Hong Kong police, which has placed bounties on their heads by offering rewards for information that would lead to their arrest. Advertisement This article originally appeared in