$1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control?
It was promoted as a victimless hack that delivered tens of thousands of dollars into your bank account. Like any hack, taking part
was as simple as following the instructions. The streamlined process designed to make it easy for a small business to start-up under
Australia’s self-assessment system, also made it easy for the ‘TikTok fraud’ to go viral.
“Everyone else got refunds, it's OK, it's just a temporary loan [from the ATO].”
TikTok
social influencer
We provide strategic business and tax advisory, underpinned by our expertise in financial planning to ensure we develop financial structures that are smart and well considered.
LIVE 2-DAY COURSE - MELBOURNE CBD
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Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA,
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29 & 30 September 2025
Join SkyBots’ 2-day Workshop with automation expert Daryl Aw to revolutionise your workflow using Power Automate, UiPath, VBA,
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We’ve all seen it: slick social media reels, perfectly filtered property gurus, and bold AI influencers promising fast wealth. But in Australia’s regulated finance and property landscape, chasing that hype can lead to more heartbreak than haul.
This past financial year brought a wave of opportunity—and many super funds delivered, with double-digit growth across key asset classes. The big question: is your fund among the top performers?