Are you a victim of BAS Refund Fraud.  Or perhaps have lodged BASs that falsely claimi expenses?

If you are a victim we can help by lodging an objection to the ATO.  You will usually find out that you have been a victim of BAS Refund Fraud when the ATO queries you about the returns or when you receive a tax debt bill.

If you have inflated your BAS expenses and received refunds that you are not entitled to the worst thing you can do is dig your head in the sand:  The ATO will eventually audit you.  The best way forward is to make a voluntary disclosure to the ATO.  In this way, you will avoid huge penalties.   We can help smooth the way for a voluntary disclosure so that you receive the lowest penalty possible.

Background

The Business Activity Statement (BAS) is a form used by businesses to report and pay Goods and Services Tax (GST), Pay As You Go (PAYG) withholding tax, and other taxes to the Australian Taxation Office (ATO). It is typically lodged either monthly or quarterly, depending on the business’s turnover.

How does the Refund Fraud Occur?

BAS refund fraud can take various forms, including:

• False Invoices: Fraudsters create or obtain fake invoices for goods or services and claim GST credits on these invoices.
• Identity Theft: Fraudsters steal or misuse legitimate business or personal information to submit false BAS claims.
• Fictitious Businesses: Individuals create fictitious businesses solely for the purpose of claiming fraudulent refunds.
• Collusion: Collusion between business owners, employees, or external parties can facilitate fraudulent BAS refund claims.

Red Flags of BAS Refund Fraud

These are the red flags that help the ATO identify BAS Refund fraud:

• Unusually large or frequent BAS refund claims compared to the business’s normal operations.
• Lack of supporting documentation or discrepancies in invoices and expense claims.
• Sudden changes in business activity or financial patterns without a legitimate explanation.
• Refunds claimed for expenses that seem unrelated to the business’s operations.
• Multiple BAS lodgments from the same IP address or device.

What next?

Waterhouse Lawyers has considerable experience helping both victims of fraud or those who falsely claimed BAS refunds.

Don’t put your hand in the sand.  Contact us now so that we can help you.