Developers, hospitality operators in firing line over GST fraud

Developers, hospitality operators in firing line over GST fraud

The ATO has sounded a warning after identifying a surge in potential GST tax fraud, with refund claims worth over tens of millions of dollars in some cases.

Businesses warned against committing GST and invoice fraud

Businesses have been warned about the ramifications of committing GST fraud, as well as making dishonest claims and falsified invoices. The Australian Taxation Office (ATO) has told businesses it is on the lookout for the following suspicious activities: Claiming GST credits for the development and construction costs of industrial buildings that never occurred. Claiming GST credits for intangible services such as ‘management fees’ that were nev…