Money: Who, when and where: The ATO will visit 1,800 small businesses before tax time in a black economy blitz - PressFrom - Australia
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MoneyWho, when and where: The ATO will visit 1,800 small businesses before tax time in a black economy blitz

03:25  25 may  2019
03:25  25 may  2019 Source:   smartcompany.com.au

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ATO cracks whip on 1 , 800 small businesses caught up in bn black economy . The Australian Taxation Office is planning to pay a visit to small businesses in Victoria, Queensland and the Northern Territory before the end of the financial year in a bid to reduce the billion black economy tax gap.

Assistant Tax Commissioner, Kath Anderson says, the ATO will be focusing its efforts on the rising popularity of the sharing economy this tax time . With more cars on the road and investment properties built, the ATO is taking even more notice and has these three golden rules for deductions.

Who, when and where: The ATO will visit 1,800 small businesses before tax time in a black economy blitz© Provided by Private Media Operations Pty Ltd. ATO

The tax office is planning a pre-end of financial year (EOFY) compliance blitz targeting small businesses in Victoria, Queensland and the Northern Territory.

Up to 1,800 businesses can expect knocks on the door over the next month as the Australian Taxation Office (ATO) looks for evidence of black economy activity.

Businesses not registered for pay as you go (PAYG) withholding or GST are of particular focus for ATO enforcers, who have identified specific geographical risk areas in each state.

The activity is part of broader efforts to reduce the $50 billion black economy tax gap shortchanging government coffers each year, with more than 10,000 small businesses expected to receive visits in the 2019-20 financial year.

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Assistant commissioner Peter Hold said local visits provide an “opportunity to talk to business owners and help them get things right”.

“We also take community referrals about businesses who are suspected of doing the wrong thing into account when selecting where to visit,” Holt said in a statement shared with SmartCompany on Thursday morning.

“Misrepresenting sales, not reporting income from online transactions and poor record keeping are some of the common concerns the community has raised with us.”

Agents will also be visiting tax practitioners of small businesses in its focus areas as part of what it says is an “early intervention strategy”.

It said the visits will help them “better understand the drivers behind agent behaviour and provide education and support to encourage willing participation of their clients in our tax and super systems”.

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“ When the ATO takes action it can do a range of things: it can issue statutory notices, it can put in a director’s penalty notice, it can run with garnishees But she says that since Tax Commissioner Chris Jordan took the top job there has been a “stronger” focus on small businesses and trying to make

1 ( 800 ) 345-3452. Small business taxes might seem like one big, ugly beast that you don’t know how to tackle. Before you owned a business , filing taxes was a one- time thing. But as a small business owner, you’ll have to pay the IRS four times per year—meaning you’ll have four more tax

Visited by the ATO? Let us know how it went confidentially at [email protected]

The ATO is holding information sessions in the lead up to the compliance activity over the next month and has provided additional detail about what it is looking for in each area.

Dandenong, Victoria

Up to 700 businesses in Dandenong can expect visits from “late-May to early-June”.

Industries of focus include:

  • Building, pest control and gardening services businesses;
  • Transport support services businesses;
  • Automotive repair and maintenance businesses;
  • Personal services businesses; and
  • Architectural, engineering and technical services businesses.

Information sessions will be held on Thursday, June 6, at the Punthill Apartment Hotel in Dandenong.

Times include 9.30-10.30am, 2.30-3.30pm and 5.30-6.30pm — a single touch payroll introduction session will also be held from 10.30am-12.20pm.

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Having a part- time business in addition to your regular job or business may be self-employment. If you and your spouse jointly own and operate an unincorporated business and share in the profits and losses, you are partners in a partnership, whether or not you have a formal partnership agreement.

Tax and fundraising. Helping in a disaster. Daryl owns an electrical business , Daryl’s Electrical, which qualifies as a small business . Fiona includes the combined amount of ,140 at label A of the Business and professional items schedule which is filled out when completing her tax return.

Richmond, Victoria

Up to 500 businesses in Richmond can expect ATO visits in “late-May to early-June”.

Industries of focus include:

  • Cafe, restaurants and takeaway food services businesses;
  • Computer system design and related services businesses;
  • Personals services businesses; and
  • Architectural, engineering and technical services businesses.

Information sessions will be held on Monday, May 27, at the Amora Hotel Riverwalk Melbourne in Richmond.

Times include 10-11am and 7-8pm.

Maroochydore, Queensland

Up to 400 businesses in Maroochydore can expect ATO visits from “early to mid-June”.

Industries of focus include:

  • Cafe, restaurants and takeaway food services businesses;
  • Building, pest control and gardening services businesses;
  • Personals services businesses; and
  • Legal and accounting service businesses.

An information session will be held on Monday, May 27, at Maroochy RSL.

Times include 10-11am and 6-7pm – a Single Touch Payroll session will be held from 11.30am-1.20pm.

Northern Territory

Up to 200 businesses across Katherine, Batchelor, Bees Creek, Adelaide River and Pine Creek should expect visits from the ATO in “late-May and early-June”.

Information sessions will be held on Tuesday, May 28, at Coomalie Community Government Council and on Wednesday, May 29, at Katherine Town Council.

Katherine Town Council times are 9.30-10.30am and 5.30-6.30pm — an additional single touch payroll session will run from 10.45am-12.35pm.

Businesses in Batchelor can expect a session at Coomalie from 3.45-4.45pm, though further tax and super questions can be asked between 1-3.30pm, while a Single Touch Payroll session will be held from 5pm-6pm


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