Fake tax agent scam alert

Yet another ATO scam we are being warned about by the ATO. This time the ATO are reporting an impersonation scam where people are contacted by someone from the ATO demanding payment of a ‘debt’.

In these scams, the person pretending to be from the ATO says they have dialled the victim’s tax agent into a three-way teleconference; however, it isn’t the victim’s tax agent, but instead it is someone pretending to be from the agent’s practice. The person then instructed the victim to pay the ‘debt’ on that day, and via bitcoin.

The ATO reports that during July and August it received more than 7000 scam reports to its dedicated phone line, with close to $190,000 being paid to scammers, and more than 1600 people handing over their personal or financial information.

The ATO will issue payment demand notices for outstanding debts so be wary of any such phone calls. The ATO will never ask you to pay your debts via bitcoin or gift cards that’s for sure!

If you receive suspicious calls please let us know as soon as possible so we can report them to the ATO.

Click here to access previous scams the ATO has identified.

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Xero subscription changes

Most of you may have received this news earlier last week: Xero has recently announced adjustments to their Subscription plans for Standard and Premium plan users, effective 28 September 2018.

Premium plan users

As Xero rolls out more features on reporting, payroll and mobile apps, the prices of the Premium plans will increase starting from 28 September 2018.

This means that in your September and October invoices you will see an adjustment made to your monthly subscription fee.

Standard plan users

Starting from 28 September 2018, Xero Standard subscription users will notice that they will be able to have up to two active payroll employees on the Standard $50 plan, as compared to one active payroll employee currently.

It is therefore a good opportunity to review your subscription plans to see if you can update your subscription plans depending on your business needs. If you need assistance in choosing the correct subscription plan, or to update your subscription plans, please contact us.

More information can be found on this blog post.