Friday, 10 Mar 2017
The Australian Tax Office decides to take a stance, by implementing their most recent plan of action to visit over 400 small businesses operating in the cash and hidden economy across two capital cities in a continued crackdown on the black economy.
This common problem for the ATO has become a high priority to make sure their taxes are in order, especially for restaurants, cafes, beauty salons and other businesses that mainly deal with cash that can be hidden relatively easily.
But it’s not all negative they genuinely want to help these businesses stay on the right side of the law and assist where possible by providing guidance, and support to those who need it.
A task force was established a few months ago to combat the issues currently being faced, and they plan to visit as many businesses as possible based across Australia already having focused on the key cities such as Sydney, Gold Coast, Adelaide and Melbourne so far.
So what’s you opinion regarding this? A much needed duty to level the playing field or do you think it’s fair game for those who deal with cash on a daily basis? Anatole
To find out further details, visit the following link:
http://www.accountantsdaily.com.au/tax-compliance/10000-ato-set-to-visit-hundreds-of-businesses?utm_source=Accountants%20Daily&utm_campaign=09_03_17&utm_medium=email&utm_content=1
