Welcome to Gleeson & Partners
At Gleeson & Partners we appreciate the individuality of people and businesses and are committed to providing solutions tailored to suit your particular situation. We work alongside you to solve problems that arise and help you reach your financial goals.
The team of focused, friendly accountants at Gleeson & Partners offers a wide range of expertise and experience in business, taxation, financial planning, and wealth creation.
For more information on how our expertise can benefit you, contact us today!
ATO Cracking Down on GST Fraud
The ATO has warned businesses not to get involved in related-party structuring arrangements or schemes to cheat the tax and superannuation systems.
The Serious Financial Crimes Taskforce (SFCT) has identified an increase in fraudulent claims for large GST refunds across a number of industries. The arrangements that have been observed involve sophisticated structuring arrangements between inter-related parties undertaken to obscure transactions and disguise artificial or fraudulent arrangements, resulting in purported high value GST refunds.
Through intelligence and information sharing with partner agencies, and equipped with resources, sophisticated data matching and analytics capability, the SFCT have identified multiple specific groups who are involved in commercial arrangements which seek to exploit the GST rules.
These arrangements often involve high-value purported transactions or purchases, such as purchases of real property. ATO officials have urged business owners to take these warnings seriously. Those involved in an illegal invoicing or financial arrangements are strongly encouraged to come forward and make a voluntary disclosure rather than wait for the ATO to contact them.
