Treasury Laws Amendment (2019 Tax Integrity and Other Measures No. 1) Bill 2019, was recently passed by the Senate. Part of the legislation was about disclosure of business tax debts. Schedule 5 to the Bill allows taxation officers to disclose the business tax debt information of a taxpayer to credit reporting bureaus in certain situations. […]
What You Need to Know about the Black Economy
Have you ever encountered engaging the services of someone who accepts cash wages “off the books”? That’s part of the growing Black Economy in Australia. The black economy refers to businesses or individuals who operate outside the tax and regulatory system or do not appropriately report their tax obligations. Also known as the shadow economy, […]
