ATO’S PROGRAM ON CASH BUSINESSES

ATO is conducting a program that focuses on industries with cash transactions as a way of addressing the problems posed by the cash economy.

The ATO uses a range of indicators to identify businesses for reviews and audits including:

· identifying businesses with the opportunity for cash economy activity
· comparing business turnover and tax return information to other similar businesses in your industry
· using information from organizations such as Centrelink, business suppliers and banks, and
· reviewing information provided by the community.

For businesses that have been selected for the program, ATO will write to them and monitor their activity statements and/or income tax returns during the next six months and may conduct an audit on the business if required.

The program reinforces the need for accurate recording and reporting of all business transactions. If you need any assistance in or advice on your record keeping please do not hesitate to contact us. Our team is more than happy to discuss with you any issues you may have

ATO 2009-2010 Compliance Program

ATO has issued the 2009-2010 Compliance Program. If you are interested, please send us an email and we shall forward a copy to you by email.