Coronavirus live updates: ATO targeting fraudsters using government help

Aussies taking advantage of coronavirus government help are in the firing line at tax time this year, with the ATO focusing on a couple of scams.

Fraudsters taking advantage of coronavirus stimulus measures have been put on notice as tax time comes closer.

The Australian Tax Office warned it was cracking down on people exploiting JobKeeper payments, early superannuation release and business cash flow schemes. Anyone caught breaking the law could face massive fines or jail time.

The ATO has uncovered intelligence about a number of dodgy tactics, including people withdrawing super and redepositing it to receive a tax deduction. Others are fudging their personal finances to apply for the hardship program.

Deputy Commissioner Will Day said the ATO generally worked on the assumption people acted honestly, but would conduct checks later.

“If you’ve received a benefit as part of the COVID-19 stimulus measures and we discover you are ineligible, you can expect to hear from us,” he said today.

“It is much better to come forward to make a voluntary disclosure than waiting to be audited.”

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