The ATO is expected to visit around 10,000 small businesses in the 2019-20 financial year in a wide-ranging crackdown on black economy activities.
Already ATO officers are on the road and heading to the Northern Territory in the last week of May and over June as part of a nationwide crackdown on the black economy. Up to 200 small businesses in Katherine, Batchelor, Bees Creek, Adelaide River and Pine Creek can expect a visit from the ATO.
Queensland and Victoria are also pencilled in to be visited by ATO officers. Assistant Commissioner Peter Holt said that the ATO is visiting businesses in these areas because they have identified indicators of risk. “We’re particularly concerned about businesses in these locations who are not registered for pay as you go (PAYG) withholding or GST. Local visits provide us an opportunity to talk to business owners and help them get things right.”
“Businesses who pay cash in hand, or fail to lodge income tax returns or business activity statements, get an unfair advantage and make it harder for other businesses who are doing the right thing,” he says. “By detecting and addressing this behaviour, we’re helping to ensure a level playing field for honest small businesses in the NT.” Readmore
