Warning against 'outrageous' tax advice from online finance influencers
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TikTok users have been warned against following advice from “finfluencers” about tax returns.

Certified Practising Accountants Australia (CPA) reported encountering “outrageous” claims regarding work-related deductions presented by financial influencers, or “finfluencers”, on TikTok.

These influencers recommended deductions like claiming your pet as a guard dog when working from home, using luxury designer bags as a work laptop bag, and claiming extensive petrol expenses without maintaining any receipts.

CPA Australia said it has seen “outrageous” claims about work-related deductions coming from finance influencers. (Getty Images/iStockphoto)

“Many times, the advice from these accounts is simply incorrect. In other instances, the claims contain a grain of truth but would only be relevant to a very limited group of workers,” stated Jenny Wong, CPA Australia’s tax lead.

“For example, some farmers may be able to claim expenses related to their sheep dogs, but the idea that a dog owner in a major city can claim expenses for a guard dog while they work from home is simply absurd.

“Similarly, many workers can claim the cost of buying a laptop bag.

“However, we’ve seen TikTok posts suggesting that taxpayers can take advantage of this to purchase expensive designer bags that are clearly not intended for carrying work laptops.

“Some finfluencers exaggerate the potential for certain claims to garner attention and likes. This is not serious advice. It should be ignored.”

The TikTok app logo is shown on an iPhone on Friday, Jan. 17, 2025, in Houston.
A “finfluencer” suggested claiming your pet as a guard dog while working from home. (AP Photo/Ashley Landis)

Wong said making wrongful claims on your tax returns can result in missing out on legitimate entitlements or lead to big fines or prosecution.

“Exaggerating a claim can have consequences. Making false tax claims could result in hefty fines, a criminal record or even imprisonment,” Wong said.

“Arguing that you took advice from a finance influencer on TikTok won’t cut it – your tax is your responsibility.”

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