Overview

• CPA Australia and the Australian Taxation Office have issued warnings about TikTok influencers promoting inaccurate and exaggerated tax deduction advice.
• Examples of misleading claims include writing off pets as guard dogs, luxury designer bags as work items, and fuel expenses without receipts.
• Tax authorities stress that false claims can lead to hefty fines, criminal records, or imprisonment, with influencer advice offering no legal defense.
• AI tools like ChatGPT are also flagged as unreliable for nuanced Australian tax guidance, and taxpayers are urged to seek advice from qualified professionals.
• Taxpayers are advised to gather proper evidence, review ATO guidelines, and remember that professional tax advice is itself tax deductible.