TikTok Financial News

A near three-fold explosion in unpaid GST debt in the past six years is fuelling a surge in owed taxes to close to $50 billion at the same time the Tax Office has been struggling to control a $4.6 billion wave of fraudulent GST refund claims ignited via the viral spread of the scam on TikTok.

Thousands of migrants from the West African country of Mauritania have arrived in the U.S. in recent months, following a new route taking them to Nicaragua and up through the southern border

He was trying to escape the deadliest American wildfire in more than a century, an inferno fueled by powerful winds from a faraway hurricane and barely hindered by the state's weak defenses against natural disasters. Her father survived. But for Kaliko, 13, the destruction of the past week has reinforced her commitment to a cause that is coming to define her generation.

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Drake continued to showcase his extravagant lifestyle, gifting a pink Hermès Birkin bag to a lucky fan. The moment was captured on camera by TikTok personality Designer Ave. Drake, known for his lavish purchases like buying Tupac’s crown ring for $1 million, took the opportunity to display his wealth once again. During the performance, Drake appeared on stage holding a pink Hermès Birkin bag, likely the Birkin 30 model made from Epsom or Togo leather. He proudly declared, «Drake ain't cheap,» as the crowd erupted in cheers. The chosen recipient of the gift was a woman seated in the front row, and Drake made sure to mention, «Make sure she has security on the way out.» This act of generosity aligns with Drake's documented love for Birkin bags. In a 2017 interview with The Hollywood Reporter, he revealed his collection was intended for the future woman in his life. He even showcased his assortment of these luxury bags in an Architectural Digest spread, stored in an opulent two-story closet adorned with intricate details. Birkin bags come in various styles, colors, sizes, and textures, with new pieces typically priced between $8,000 and over $30,000. Drake's musical success is no secret either, with 12 No. 1 titles on the Billboard 200 chart, including albums like «Take Care,» «Views,» and «Honestly Nevermind.» His reign continues on the Billboard Hot 100, where he has secured 11 chart-toppers, including hits like «God's Plan,» «Nice For What,» and «In My Feelings.» Collaborating with 21 Savage, Drake also achieved a Billboard 200 No. 1 album with «Her Loss» in 2022 and a Hot 100 No. 1 single with «Jimmy Cooks» in the same year.

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

Telegram, the encrypted messaging app, has finally rolled out its much-anticipated Stories feature for all users, after earlier making it available for only premium subscribers. Though it’s an old feature, what sets Telegram apart is its unique twist on the conventional Stories concept – the ability for users to effortlessly edit their stories after posting, reported TechCrunch. Users can effortlessly edit various facets of their stories, ranging from visibility and captions to on-screen text, stickers, and more, all without the need to delete and repost content. Telegram aptly stated in a blog, «For the first time in the history of social media, you can update any element of your story at any time… without having to delete and repost it from scratch.» This functionality has been absent on other prominent social media platforms like Instagram, Snapchat, Facebook, and TikTok.

Would you pay $2,000 to live in a 200-square-foot unit in Vancouver’s Downtown Eastside?

A federal judge on Wednesday declined to approve a proposed settlement in a class-action lawsuit prompted by a surge in Hyundai and Kia vehicle thefts, saying it fails to provide “fair and adequate” relief to vehicle owners

China. TikTok, owned by Chinese tech giant ByteDance and used by tens of millions of Americans, has faced calls from U.S. lawmakers for a nationwide ban over concerns about possible Chinese government influence.

TikTok’ on government-owned devices due to security concerns, joining a number of US cities in it, according to a report published by the news agency Reuters. In an official statement, the administration of New York City Mayor Eric Adams said, “TikTok posed a security threat to the city's technical networks." The agencies are required to remove the application within 30 days and employees will lose access to the app and its website on city-owned devices and networks. The City has already banned TikTok on state-issued mobile devices, Reuters reported.

By Kanishka Singh

TikTok phenomenon in the U.S. to respond faster to trends and keep rebalancing the distribution of its products to continue betting on its retail partnerships with Ulta Beauty, Target and Sephora-Kohl’s ventures, where mass beauty brands top sales. Indie brand e.l.f.

A Victorian woman avoided jail after repeated efforts to have more than $115,000 in fake GST payments paid out to a dog grooming business that had been set up over a decade earlier but remained dormant until early 2020.

The headline in the August 14 print edition, TikTok GST fraud costs ATO $4.6b, was incorrect. As the story reported, the ATO has stopped $2.7 billion in fraudulent refunds and issued $1.9 billion in liabilities relating to refunds already paid, including $300 million in penalties and interest imposed on taxpayers.

The first time that Will realised he was caught up in the huge Protego GST crime wave came when he discovered his tax refund had disappeared – it went to pay out debt racked up by a fraudster in Sydney who hijacked his MyGov account for nearly $30,000.

Health hacks such as drinking olive oil and bone broth crop up, then fall into obscurity. All these fads make the concept of «wellness» squishy: Wait, we're drinking lettuce water? When did everyone get so concerned about their cortisol? It's easy to get overwhelmed. «Anyone who has learned anything from a conversation with their own nutritionist or maybe with their mother or just their personal life journey» can share their findings and suddenly go viral, said Emily Moquin, a food and beverage analyst at the research firm Morning Consult. Here's a roundup of the health and wellness trends in 2023.

Threads, the simple, bare-bones text-based social network created by Facebook owner Meta, burst onto the scene during a particularly bad week for the rival then still known as Twitter

Illinois is the first state in the U.S. to ensure child social media influencers are compensated for their work

Federal Communications Commission (FCC) Commissioner Brendan Carr told ET. The US and other countries are still grappling with the alleged privacy risks associated with Chinese apps such as TikTok.

A Treasury review into secrecy laws that bind the Tax Office will consider the fallout from a $1.6 billion tax fraud scheme executed via TikTok, as federal Labor promises enhanced rules to protect taxpayers.