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Today’s Top Headlines




ATO To Target Grey Economy Businesses In Canberra, Perth

by Mary Swire, Tax-News.com, Hong Kong

07 March 2017

The Australian Taxation Office (ATO) has said that its officers will visit more than 400 businesses in Perth and Canberra over the next month as part of a campaign to help small businesses manage their tax affairs.

The ATO will focus in particular on businesses operating in the grey and hidden economy.

Assistant Commissioner Tom Wheeler explained: "Our officers will be visiting restaurants and cafes, hair and beauty, and other small businesses in Perth and Canberra to make sure their registration details are up to date. These industries are on our radar because they have ready access to cash, and this is a major risk indicator."

"Visiting these businesses in person is about helping them to meet their obligations. Through the visits we can quickly identify who needs extra support and make it easier for them to comply."

Wheeler added that the industries earmarked for these visits "have some of the highest rates of concerns reported to us from across the country."

TAGS: compliance | tax | small business | business | value added tax (VAT) | tax compliance | revenue guidance | Australia | small and medium-sized enterprises (SME) | revenue statistics | Tax

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