[Brad Lockyer]

The Australian Taxation Office (ATO) has issued a warning for businesses who perform ‘cashies’ – or jobs that are paid in cash to avoid paying the correct amount of tax.

Tony Goding, ATO assistant commissioner, says its getting harder for these businesses to hide their activities.

“Dodgy businesses doing ‘cashies’ are being put on notice as the ATO continues to crack down on shadow economy behaviour,” he says.

“If you are asking for cash and not declaring it to the ATO, you will receive a ‘please explain’ from the ATO and you will be penalised. It’s not a matter of if, it’s a matter of when.”

It’s estimated that under-payment or non-payment of tax costs the Australian economy $12.4 billion each year.

[David Ryder]

Most of that lost 12.4 billion dollars is probably multinationals shifting profits off-shore.

[AB241266B]

David Ryder is right, most of that lost 12.4 billion dollars is being shifted offshore, by the Federal Government, not by multinationals in the Private Sector.
Futhermore it is not illegal to accept cash as payment for goods and services when it is offered as opposed to being demanded. I am an Age Pensioner and choose to pay in cash to support local businesses that are being driven out of their livelihood by the escalating mal-administration of the Income Tax Act that is now full of weasel words. IT IS ILLEGAL to Demand Crypto payment for a pound of potatoes when it forces the buyer, being unable to buy, to go without food, goods and Services.

[AB241266B]

David Ryder is right, most of that lost 12.4 billion dollars is being shifted offshore, by the Federal Government, not by multinationals in the Private Sector.
Futhermore it is not illegal to accept cash as payment for goods and services when it is offered as opposed to being demanded. I am an Age Pensioner and choose to pay in cash to support local businesses that are being driven out of their livelihood by the escalating mal-administration of the Income Tax Act that is now full of weasel words. IT IS ILLEGAL to Demand Crypto payment for a pound of potatoes when it forces the buyer, being unable to buy, to go without food, goods and Services.

[Author]

Posts