Setting up a side hustle or a new entity and need a TFN or an ABN… be careful of the scams

The ATO have recently released an alert on fake websites advertising to provide Tax file numbers (TFN) and Australian business numbers (ABN) for a fee but failing to provide the service.

These scams are often advertised on social media platforms such as Facebook, Twitter, and Instagram and are used to steal both money and personal information.

To avoid this and other scams, the ATO advises that you should:

• Apply for a TFN through the ATO or an ABN through the Australian Business Register. These websites are legitimate, government services in which it is free to apply for an ABN or TFN.

 

• Request that your tax agent apply for the ABN or TFN.

 

• Check that your tax agent is registered with the Tax Practitioners Board.

 

• Guard your personal and financial information. Only give your personal information to people you trust, don’t share this information on social media, and be careful when clicking links, downloading files, or opening attachments.

 

• If you have fallen victim to a tax related scam, please let us know as soon as possible.

Please call or click to discuss with a Macro Group Team Member if you would like further information.

The Macro Group Team

Published on 6 May 2022

 

The Macro Group Limited AFSL:485843 Tax Agent Number 24 76 5236.

The information in this article  contains general information only. We have not taken into consideration any of your personal objectives, financial situation or needs. Before taking any action, you should consider whether the general advice contained in this communication is appropriate to you having regard to your circumstances and needs, and seek appropriate professional advice if you think you need it. We recommend that you consult a licensed or authorised financial adviser if you require financial advice that takes into account your personal circumstances.