Keep in mind the following information is General Advice and is obviously not personalised for your unique needs, objectives or financial situation. Please get in touch with your advisor before taking any action on the below points so they can advise on the appropriateness of this for you.
The Australian Taxation Office are increasing contacts with businesses and individuals. Although the last year can only be described as a drastic outlier in regard to the amount of ATO intervention, it may be fair to assume that increased contact may be a sign of things to come, as the agency resumes more traditional compliance activities.
Increased ATO Contact
Although we have noticed an increase in the ATO contacting individuals including by our clients’ emails and also via their MyGov portal, we are ultimately unaware of the nature of these correspondences.
Although we cannot advise on the specifics of these calls and/or emails, it wouldn’t be far-fetched to think that they likely pertain to the following up of obligations. We would take this opportunity to remind our clients to ensure that they have met any and all outstanding responsibilities and debts owed to the ATO. As always, if you have any concerns with communications from the ATO or require assistance, your Morrows advisor is available to assist you and/or your business in doing so.
It is also vital to remind you about an increase in the risk of phishing scams. Recent warnings have been issued over a specific phishing email claiming to be from the ATO to provide taxpayers with a $220 tax refund. After being directed to a MyGov lookalike portal, many users have unknowingly surrendered their personal and bank details to scammers. Taxpayers can confirm the validity of an ATO message by contacting them directly on 1800 008 540. Scams can be reported by using this online form.
We would advise our clients to forward any correspondence they receive directly from the ATO to their Morrows advisor – especially if they are unsure of its contents and/or implications.
Please don’t hesitate to get in touch with your Morrows advisor if you require any assistance.