Australian taxpayers are being cautioned against sharing personal tax information with artificial intelligence (AI) tools like ChatGPT. Miriam Holme, director of Fab Tax Accountant, stressed that individuals must not disclose sensitive data such as Tax File Numbers (TFNs) or tax returns, as it poses significant privacy risks. Many taxpayers mistakenly believe these conversations are secure, but data can be exposed through various means, including screenshots and shared devices. The Australian Taxation Office (ATO) echoed these warnings, urging taxpayers to report any shared information immediately. Notably, a survey found nearly a third of Australians sought AI for tax advice, highlighting a growing reliance on inaccurate information. Holme advised that AI-generated tax guidance may not be dependable, emphasizing the importance of consulting the ATO or accredited tax professionals for accurate advice. Overall, taxpayers remain responsible for the accuracy of any information provided, regardless of the source.
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