People overclaiming work-related expenses, accountants encouraging clients to engage in illegal behaviour, and businesses using technology to hide their sales will be the targets of a renewed effort by the Tax Office that the federal government hopes will bring in an extra $1.2 billion in revenue.
The ATO has confirmed an extra $111 million in funding, contained in the mid-year budget update, will go towards extending efforts to collect personal income tax and boosting its campaign focused on the shadow economy.
Crackdown on tax dodging expected to reap $1.2 billion in extra revenue
This is the story of the incredible cloning tax break.
In 2004, David Baszucki, fresh off a stint as a radio host in Santa Cruz, Calif., started a tiny video-game company. It was eligible for a tax break that lets investors in small businesses avoid millions of dollars in capital gains taxes if the start-ups hit it big.
Once aimed at small businesses, a 1990s-era tax break has become a popular way for Silicon Valley founders and investors to avoid taxes on their investment profits.
A Lavish Tax Dodge for the Ultrawealthy Is Easily Multiplied
Borders reopen but expats warned not to expect an ATO welcome wagon
With Australian borders reopening, returning expatriates and those considering a move overseas are being warned to be aware of looming changes to residency rules and capital gains taxes on assets like the family home
“Two major real estate search engines nix crime data in racial equity push.” Maybe we haven’t reached “peak woke” yet after all. You have to be out of your mind to believe that it is more “equitable” if home buyers are kept in the dark about crime in the neighborhood that they are investing their life savings (not to mention their actual lives) in.
30 minute audio interview with a convicted online scammer by consumer reporter Herb Weisbaum
T-Mobile says it has blocked 21 billion robocalls this year
Review and recommendation: I just finished Pandemia, by Alex Berenson, and this apparently tops the NYT best seller list. I’ve followed Alex through the pandemic, and he has been a close and thoughtful observer of the many mistakes we’ve made throughout its course. As citizens it is our duty to be informed on important issues, and The Science is, of course and necessarily, a function of learning, disputing, and testing hypotheses.
BBB Studies. Here are links to the study topics of my studies: puppy fraud, romance fraud; BEC fraud, sweepstakes/lottery fraud, tech support fraud, romance fraud money mules, crooked movers, government imposters, online vehicle sale scams, rental fraud, gift cards, job scams, and online shopping fraud.
Virus ScamsFraud News Around the world
- How multistate consumer protection actions by the State Attorneys General work and what they involve
- Online background report MyLife settles with DOJ; injunction; to pay $21 millio
- Singapore: Police investigating 303 scammers and money mules for online fraud
- Massachusetts: Man arrested who “sold” and got deposits for houses that were not for sale
- New Jersey: Three Jordanians indicted for moving fraud; upped the price after goods were loaded
- UK group Which? examines text messages about package delivery issue
- Stolen Ohio bridge located; man faces theft charges
- Five year old in Ontario found driving car; wanted to buy present for his sister
- Cops say woman drugged boyfriend because he “wouldn’t shut up”
- US Chamber of Commerce sends letter to Congress expressing concern at the direction the FTC is taking
- FTC authorizes rulemaking to fight government and business impersonation frauds
- FTC sending $1.8 million to Lifewatch customers who got deceptive robocalls about a medical alert product
- CFPB settles with company that steered clients from structured settlements to one time payments
- CFPB orders lender to close over violation of agency order against deceptive practices
- FTC reveals ambitious rule making plan for 2022
- US Secret Service says $100 billion in Covid aid was stolen through PPP and other fraud
- Houston: Superseding indictment of four for PPP fraud; got and laundered $35 million
- Maryland: Woman arrested for PPP fraud of $1.6 million
- New Jersey: Three indicted for $2.1 million PPP fraud
- Two from Florida plead guilty to $35 million PPP fraud
- Utah: Woman pleads guilty to PPP fraud
- Virginia: Woman gets 10 years prison for unemployment benefit fraud; headed group that got $1.5 million
- Arizona: Nine indicted for PPP fraud; got more than $23 million
- Utah: Former Olympic speed skater charged with PPP fraud; got $10 million
- Florida: Man gets 17 years prison for $1.5 million PPP and EIDL fraud; used identities of the elderly to apply
- Maryland: Nigerian pleads guilty to unemployment fraud; also to scheme that impersonated Facebook friends to rip off elderly
- Louisiana:Woman gets 18 months prison for EIDL loan fraud
- Attack on payroll company Kronos affects many companies trying to pay employees
- Hits hospital in Ireland
- Cyber attack shuts down Belgian defense ministry with Apache Log4J
- FBI, other worldwide agencies, warn of dangers from Log4shell and other vulnerabilities
- Beware of crypto scams; recap of most common scams
- New York: Man pleads guilty in SIM swapping scam; stole $20 million; part of a group that got $100 million
- Scammers use Google to find people searching for wallet apps; $500,000 stolen last month
- Skimming on the decline in Germany
- Orange County, California: Man arrested for ATM skimming; second suspect flees