Posted on 8 May '12 by , under General News.
The Australian Taxation Office has announced tough new measures to clamp down on tax evasion – specifically targeting the hospitality, and building and construction industries.
The ATO has stated that businesses which deliberately use cash transactions to hide income and evade tax obligations will be under the spotlight.
Illegal behaviour included companies who paid cash in hand wages, skimmed cash takings, ran normal business activities off the books, and underground operations.
Businesses in industries which have ready access to cash will be the main focus, with the ATO implementing specific strategies to catch offenders.