The Problem with Finfluencers

Many finfluencers make money by promoting financial products or services, often without being qualified or licensed to provide financial or tax advice. While some may have good intentions, their tips are not always accurate—or legal.

We’re increasingly seeing social media content that encourages:

❌ Claiming your pet as a work-related guard dog
❌ Writing off luxury handbags as laptop bags
❌ Deducting fuel costs without proper records
❌ Claiming swimwear as a work uniform

These might sound plausible, but they’re often misleading, highly specific, or outright false. And following them could cost you.

What’s at Stake?

The Australian Taxation Office (ATO) uses advanced data-matching technology to detect suspicious claims. If you lodge a return based on incorrect advice, you may face:

❌ Increased tax liabilities
❌ Interest charges and administrative penalties
❌ Fines for non-compliance
❌ In serious cases, criminal prosecution

A quick deduction isn’t worth long-term financial and legal consequences.

How to Stay Smart and Safeguard Your Tax Position

✔️ Be cautious – If it sounds too good to be true, it probably is
✔️ Do your homework – Always verify advice before acting
✔️ Stick to trusted sources – Visit ato.gov.au for official guidance
✔️ Come speak with us – As a registered tax agent, we’re here to provide advice that’s accurate, compliant, and tailored to you

If you’re unsure, don’t risk it, come speak with us. We’ll help you stay compliant, no filters or hashtags needed.

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Please be aware that the information, by no means, is a substitute for financial advice.