Top four tax scams and how to avoid them

+ Strategic tax tips for Australian businesses

Author

Maziar Foroudian
June 17, 2024

Latest Stories

Tax season often equals scam season. Cyber crimes are soaring with a 400% increase expected this EOFY. Read our must-know guide to identify and protect yourself from the top four tax scams targeting Australians now.

A guide tailored for Australia's 2.5M active businesses and 250k gig economy workers. Navigate EOFY stress-free with structured tax preparation, important deadline insights, and how dedicated platforms can simplify tax time.

Interested in automation but lack coding skills? Worry no more. Explore some of the best no-code automation tools that make automating business processes a breeze. Enhance collaboration, productivity, and efficiency seamlessly!

Receipts lost or damaged? Discover how Aussie SMEs are inadvertently tossing out $948 million via "Receipt Regret." Dive into this article to unravel the impact of disorganized record-keeping on your EOFY's bottom line and how to avoid it.

Atlassian for Startups" is a bold new initiative set to equip tomorrow's innovators with crucial tech tools to foster productivity and performance. Discover how your startup can benefit from free access to leading software for a year.

From personal struggle to sweeping industry transformation, join us as we chart Mish Wright's climb to industry stardom. Striving to illuminate the ‘missing education’ in female fitness, Wright is rewriting the rulebook for training women.

Struggling with rising costs? H&R Block has teamed up with Beforepay to offer timely financial relief. Their innovative new Tax Refund Advance service lets eligible individuals and SMEs access their tax refund early. Say goodbye to long waiting periods for your tax return!

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Top stories

Artificial Intelligence (AI) virtual assistants revolutionize solopreneurship by boosting productivity, offering cost-effectiveness, scalability, and 24/7 availability. This groundbreaking solution allows solopreneurs to focus on core business activities while delegating routine tasks to smart virtual teams.

A recent survey found that managers are spending over five hours a week providing emotional support to team members facing personal crises. This added responsibility has led to stress and burnout among managers worldwide.

Australia

Licensed post offices in Australia are struggling due to declining letter-sending and over-the-counter transactions. A petition calls for lifting restrictions to expand services, allow profitability, and better serve communities in need.

Sleeping Duck co-founders defeated legal claims from venture capitalist Adir Shiffman, who invested $100,000 in 2017. Shiffman alleged he was frozen out, but court documents show no such agreement. Founders are now worth $170 million each.

Australian Economy

Economists predict a pause in rate rises by the Reserve Bank of Australia, sparing home loan borrowers. Despite inflation concerns, major banks expect a rate cut soon, with hints at 2025 adjustments. Economic data to be closely monitored.

In a world of constant turmoil and uncertainty in asset management, deal makers are finally seeing a turnaround as money is being put to work. Katrina King explores the changing landscape. Subscribe to read more.

World

California is offering grants to businesses providing paid family leave to employees. Other current opportunities include grants for minority-owned small businesses in Long Island, water outages recovery funds in Atlanta, and drought relief grants in California.

Meta has paused plans to process EU user data for AI due to data privacy concerns. Regulators rejected Meta's claims of "legitimate interests" in processing personal data. Noyb filed complaints to stop Meta's AI plans.

Former President Donald Trump vows to eliminate taxes on tips for service workers while addressing supporters in Las Vegas. While this seems beneficial for employees, small business owners face added reporting burdens. Congressional support is needed to fulfill this promise.

EU regulators are targeting Apple and Meta for not complying with the new Digital Markets Act (DMA) rules, which aim to increase competition in online markets. They face charges and potential fines if they don't comply.

Tech

YouTube is testing new features such as AI-generated live chat summaries and channel QR codes. The AI summaries provide condensed versions of live chat conversations, while QR codes make it easier for creators to share their channels. Exciting developments await users on the platform.

1SEO Digital Agency joins forces with TCIA to revolutionize digital marketing for tree service companies. With tailored strategies including SEO, PPC, and social media, businesses can expect increased visibility, customer engagement, and industry-specific expertise for growth.

Luma AI Dream Machine, a new AI-generated video tool, is making waves with its free, open text-to-video model. Users are amazed at its impressive outputs, leaving many to compare it to OpenAI's Sora. This universal imagination engine has the potential to revolutionize video creation.

Women We Admire celebrates The Rising Star Women of Technology for 2024, highlighting Marja Koopmans, Danielle Teska, and Patty Wilmot among other exceptional women in tech. These leaders are revolutionizing the industry and paving the way for gender equality in technology.

Curated for you

A survey by Invoice Home uncovers the mental health challenges small business owners face in the US. Financial hardships have led to depression, substance abuse, and health issues, particularly affecting younger entrepreneurs. Policy and community support are crucial.

In 2024, online presence is crucial for business success. Enhance yours by including your unique voice, using top WordPress page builders, leveraging web widgets, mastering Shopify image optimization, understanding Semrush, SEO basics, technical Google search requirements, and more.

InstaBrain, a new digital insurance platform, revolutionizes the user experience with data-driven solutions and real-time underwriting. It offers instant decision on various insurance products, making the process more accessible and efficient for consumers and agents alike.

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