Australian Tax Office – Scam Alert

Lowe Lippmann Chartered Accountants

We want to alert you to recent scams exploiting the myGovID name change. Scammers are using phishing emails, fake websites, and calls to steal your information.
 
The below is an extract of a recent newsletter received from the ATO.


 November 2024 – myGovID and myID scams
 
We are seeing ATO impersonation scams relating to the upcoming name change of myGovID to myID, which is occurring in mid-November.
myID is a new name and will have a new look – but it will still be used the same way.
 
There is nothing the community needs to do to prepare for this change.
 
You don't need to set up a new myID or reconfirm your details as part of this change. If you are asked to do this, it's a scam.
 
We have been 
communicating about this change through activities (including email) to current myGovID users.
 
Scammers are trying to trick the community into thinking they need to reconfirm their details via a link. The link directs users to a fraudulent myGov sign in page designed to steal personal information, including myGov sign in credentials.
These details can be used later in identity theft or other fraudulent activity such as refund fraud.
 
The following image is one example of the format this scam can take.

 To protect yourself we remind you:

  • We won't send you an SMS or email with a link or QR code to log on to online services. You should access them directly by typing ato.gov.au or my.gov.au into your browser.
  • We will never send an unsolicited message asking you to return personal identifying information through SMS or email.
  • Don’t click on links, open attachments or download any files from suspicious emails or SMS; we will never send an unsolicited SMS that contains a hyperlink.
  • Only download the myGovID (soon to be myID) app from the official app stores (Google Play and the App Store). 
  • Never share your login code with anyone.
  • We are on FacebookExternal LinkInstagramExternal Link, X and LinkedInExternal Link, but we will never use these social media platforms to private message, discuss your personal information, documentation, or ask you to make payments.

The following images are examples of other myGovID scams

For more detailed current scam alerts, click here

       



  Please do not hesitate to contact Lowe Lippmann IT Department if you wish to discuss any of these matters further. 

Liability limited by a scheme approved under Professional Standards Legislation


August 4, 2026
Government to permanently extend $20,000 instant asset write-off The Government has recently introduced legislation that would make the $20,000 instant asset write-off permanent for small businesses (as announced in the 2026 Federal Budget). If enacted, the changes would: permanently set the instant asset write-off threshold at $20,000 (instead of $1,000) for eligible depreciating assets first used, or installed ready for use, for a taxable purpose from 1 July 2026; and permanently set the general small business pool threshold at $20,000 from 1 July 2026. The changes would also further suspend the 'lock-out rule' until 30 June 2027. This rule otherwise prevents a business that has chosen not to use the simplified depreciation rules from re-entering the regime for five years.
July 7, 2026
High Court decision and ATO statement on Bendel’s Case The High Court recently handed down its decision in Bendel’s Case, confirming that an unpaid present entitlement (or UPE) between a discretionary trust and a beneficiary company does not fall within the extended definition of a “loan” for Division 7A purposes. The Australian Taxation Office released a Decision Impact Statement in response to the High Court findings, concluding the High Court's reasoning makes it clear that where a beneficiary company is entitled to a share of trust income that remains unpaid (a UPE) and the company takes no positive actions to call for payment of the entitlement, this will not fall within the expanded definition of a "loan" for Division 7A purposes. This is in contradiction to the ATO’s historical position that treated UPEs as "loans".
July 5, 2026
Government's tax reform package The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases). These include, among other things: Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1 July 2027 (including gains on pre-CGT assets); Increasing the small business turnover threshold for the 50% active asset reduction from $2 million to $10 million; Limiting negative gearing for residential property to new residential dwellings from 1 July 2027 (subject to transitional rules); and Introducing the Working Australians Tax Offset from 1 July 2027, and the $1,000 instant tax deduction for work-related expenses from 1 July 2026. After a round of consultation, the Government has also announced further proposed measures, broadly including (among others): A new targeted CGT discount for investors in innovative start-ups; Barring SMSFs from utilising future limited recourse borrowing arrangements ( LRBAs ) to acquire residential property; and  Exempting income of discretionary testamentary trusts from the minimum tax proposed for trusts. We recently released a Tax Alert considering the legislation restricting SMSFFs using residential property LRBAs – to read click here . For full details of each of the 2026 Federal Budget announcements, please see our Federal Budget Tax Alert – to read click here .
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