From www.rsm.global: The ATO has issued a warning regarding increasing GST fraud in the real estate and construction sectors, highlighting sophisticated schemes that involve false invoicing and misaligned GST accounting methods.

The ATO’s Serious Financial Crime Taskforce is actively targeting these fraudulent behaviours, employing advanced analytics and collaborations to uncover financial crimes and enforce penalties.

Businesses are advised to remain compliant with GST regulations and report any fraudulent activities to mitigate potential penalties.