ATO probing 40,000 Aussies for tax fraud

Information on how to attempt the fraud is being shared via social media, the ATO says. (AAP)

The Australian Taxation Office is cracking down on an $850 million fraud being spruiked on social media that involves people inventing fake businesses to claim GST refunds.

Operation Protego is probing potentially fraudulent payments made to about 40,000 Australians who have each claimed on average around $20,000.