Tuesday, August 27, 2019

Small business tax dodgers continue to fuel "black economy" - I speak with ATO deputy commissioner

Tax cheats running small businesses continue to gouge billions of dollars from the economy by putting in dodgy expense claims and demanding cash-in-the hand transactions. 

The Australian Taxation Office says while almost 90 percent of small businesses pay income tax voluntarily, the most recent figures show $7.1 billion went into the "black economy" in 2015-2016 through straight-out tax evasion but also the use of software that can disguise  transactions. 

ATO deputy commissioner Deborah Jenkins speaks with ABC's Peter Ryan.



Source: Australian Taxation Office

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