Tax dodgers warned they risk an "audit" more than ever as ATO ramps up scrutiny

The Australian Taxation Office has ramped up its warnings about much-feared "audits" and big potential fines for any taxpayer who knowingly lodges dodgy claims. 

READ the story here 

The ATO says it will be scrutinising every tax return lodged for the past financial year deploying updated hi-tech cross checking systems to weed out inaccurate or outright fraudulent deductions. 

Assistant Tax Commissioner Karen Foat tells ABC's Peter Ryan some tax evaders even create elaborate web sites to create fake work records and receipts.

Assistant ATO commissioner Karen Foat (source: supplied)

But taxpayers who've experienced a much-feared audit have another side to the story.

Those who contacted the ABC after this morning's story are less than glowing about the ATO's tactics:


"More evidence of going after soft targets, the little guy, to distract us from the real tax evaders - big business. Old fat white men want to maintain the status quo at all costs." 

"The government pressures the ATO to make noises that they are clamping down on tax evasion. The figures quoted of savings made and unpaid tax that could have been paying for public infrastructure is small bikkies compared to what the big corporations are avoiding." 

"Tell her (Karen Foat)  to focus on all those dodgy tradies doing jobs for cash and SMEs "running expenses through the business"

Urgent reforms needed to power grid currently unable to cope with rise of solar and electric cars, warns gov't energy adviser

The Federal Government's energy adviser is urging dramatic reforms to power distribution networks so they can cope with growing rooftop solar use and the rise of electric vehicles.

The Australian Energy Market Commission wants decisions made about a "grid of the future" that can handle flows from renewables rather than billions of dollars spent on new substations, poles and wires. 

The recommendations come as energy regulators worry about the risk of blackouts with ageing coal-fired power stations reaching the end of their lives. 

AEMC chairman John Pierce speaks with ABC's Peter Ryan.

Rate cut likely next week as RBA hostage to global headwinds and local slowdown

Source: Thomson Reuters "RBA WATCH"

Reserve Bank governor Dr Philip Lowe has signalled that interest rates will be cut to a new record low of 0.75 percent next week. 

Dr Lowe has blamed foreign central banks for laying the groundwork for near zero interest rates by early next year.

Ernst & Young chief economist Jo Masters speaks discusses the global and local headwinds with ABC's Peter Ryan.

Telco complaints fall, but longer wait to resolve gripes in "always on" world. I speak with Telecommunications Industry Ombudsman Judi Jones.

First the good news - complaints about phone and internet services are down 21 percent in the last financial year. 

The bad news is that getting a complaint resolved is taking a lot longer with only half of the gripes sorted out within 60 days. 

The mixed messages in the Telecommunication Industry Ombudsman's annual report confirm the complexity of high expectations about internet quality and rising complaints about billing and customer service.

It's also a headache for ombudsman Judi Jones who's speaking from Melbourne with the ABC's senior business correspondent Peter Ryan.

PayPal Australia transactions linked to potential abuse by child sex exploitation rings; financial crime agency orders external audit

Digital payments giant PayPal Australia will undertake an urgent external audit of its global money transfers business on suspicions it is being used by child exploitation rings in Asia. 

The Australian Transaction Reports and Analysis Centre says it is investigating PayPal's compliance with international funds transfer obligations to or from Australia and singled out child sex exploitation as a risk that prompted the regulatory intervention. 

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AUSTRAC chief executive Nicole Rose speaks with ABC's Peter Ryan.

Source: Austrac statement 23 September 2019