Avoid scammers at tax time, SCAMwatch warns

Small businesses should keep on their toes at this time of year, as scammers are very active during the end of the financial year, warns SCAMwatch.

According to a statement from SCAMwatch, there is a range of various scams aimed at start-ups, including billing for advertising that has never been requested to overpayment scams and shonky investment opportunities.

SCAMwatch provided some tips for businesses during tax time to avoid being conned.

1. Protect your business. Limit who has authority to buy or order anything and keep written records of all orders and purchases.
2. If you are unsure whether you have received a legitimate invoice or request, contact the organisation. Don’t rely on contact details provided to you in an email – obtain the details through an internet search, telephone directory or official letters/statements from organisations like banks.
3. Remember that government agencies, banks and financial institutions will never send emails requesting verification of personal details for any reason, including tax returns.