Money news that affects your hip pocket this Friday.
In 2015, almost 87,000 phone and email scams were reported to the ATO, an increase of more than 90 per cent from 2014.
See more: tax scam news
Debt agreements rose by nearly 25 per cent, while bankruptcies increased by seven per cent.
See more: debt dramas
Meanwhile, mortgage broker network 1300HomeLoan is warning home loan customers to expect the major banks to lift interest rates in the second half of 2016 despite prospects of another cash rate cut by the Reserve Bank of Australia (RBA).
1300HomeLoan Managing Director John Kolenda said with the long running federal election now out of the way, the stage was set for the banks to take their own course and increase interest rates.