It is really unfair for other business wants to do the right thing. Doing the right things mean, business shows the right income and pay the right amount of taxes and reward their employees accordingly by paying the right wages and superannuation. ATO is very keen on catching the business that is hiding income and paying less to the employee. ATO Classify this business in cash and hidden economy.
Not reporting the right income means honest business face unfair competition. Hiding tax means all the industries are affected because the Government has less money to funds community, such as health, education or other significant government programs.
Reliable Bookkeeping Services think we all individually pay a vital role by paying cash and in return not obtaining a receipt for the payment.
The ATO has various strategies to track done unfair business by obtaining information from external sources such as a bank, government agencies and industry suppliers.
The ATO is visiting restaurants, cafes and takeaway restaurant in Box Hill. ATO will visit more than 150 businesses in Box Hill to discuss their registration, record keeping, super obligation, and lodgement.
Reliable Bookkeeping Services encourage the ATO to track down unfair businesses.
For more information, you can contact Reliable Bookkeeping Services on 03 9310 7871 or visit us on www.reliablebookkeepingservices.com.au