We all look forward to the EOFY tax return, but what if we told you your money could be at risk?
With the end of the financial year approaching, it is a good time to think about keeping your identity safe as you prepare for tax time.
Don’t fall victim to scammers posing as tax agents who are not registered with the Tax Practitioners Board (TPB). These scammers will claim to be tax agents, promising refunds that sound too good to be true or offering much cheaper services than registered tax agents.
These unregistered tax agents can cause serious problems for the unsuspecting Victorian. Using an unregistered agent can result in terrible financial loss and significant tax debt. Falling victim could result in not receiving a tax refund at all or where fraudulent claims are made in your name.
In some instances, these unregistered tax agents are asking for your ATO online account and myGov account credentials to lodge your tax return. If your personal information gets into the wrong hands, it can cause a great deal of financial pain resulting in identity theft and false claims.
A legitimate Registered tax practitioner will never ask you for your MyGov credentials.
“Keeping your personal information safe, especially in high-risk periods such as tax time, is of the utmost importance to BankVic. Contact your financial institution immediately if you think you have given away any personal banking details, and ensure you check your tax agent’s registration before proceeding”.
To stop yourself from falling victim at tax time, follow these handy tips from the ATO:
- Check your tax agent is registered by visiting: tpb.gov.au/search-registerExternal Link.
- Protect your myGov login details and password—you should not share these details with anyone, including your tax agent. Registered tax agents can access the information they need themselves via ATO portals.
- Know your tax affairs—you can log into myGov to check your tax affairs at any time, including to review your return and refund details, or you can contact your registered tax agent or the ATO.
4 Steps to Protect Your Personal Information at Tax Time.
Protect yourself: Don’t use public Wi-Fi or personal hot spots for online banking or accessing any personal tax information.
Change your online passwords every three months, especially for high-risk accounts like myGov or your bank.
Consider using a password manager to generate strong passwords and securely manage your account logins and credentials.
Update your computer software: Signs that you have been targeted by a cybercriminal can include your computer suddenly running slower than usual, the battery on your device draining faster than it normally would, or if you suddenly find yourself locked out of an account—or your device altogether. If you fear your details may have been compromised, act quickly by contacting the relevant organisations and Scamwatch.
Keep up to date: Make sure your device always has security software installed, which is especially important at high-risk periods like tax time. Also, ensure your operating systems and applications are all the newest versions available, as any updates might have focused on identifying—and removing—bugs.
Lastly, make sure your bank details are correct in myGov when lodging your tax return. If you think you have been contacted by the ATO, but you are not sure you should have been, phone 1800 008 540 to check. You can also report tax-related scams to the ATO on 1800 008 540.
For more helpful advice to protect yourself and your family online, be sure to follow Crime Stoppers Victoria and BankVic on social media so you don’t miss a beat of our Online Safety Series 2022.
