ATO advice on offer for Mandurah small businesses

ATO advice on offer for Mandurah small businesses

MANDURAH small businesses will have the chance to talk to the Australian Taxation office (ATO) this month in an effort to ensure they have the support to get their tax and super right.

The visit is part of a program by the ATO to ensure fairness for honest businesses and to level the playing field by tackling the “cash and hidden economy”.

The “cash and hidden economy” would have a widespread impact on society and the Australian Bureau of Statistics estimates that it accounts for about $21 billion that could be used for schools, roads and hospitals.

Assistant Commissioner Matthew Bambrick said all Australian businesses should get a fair go.

“Businesses that don’t do the right thing by their employees, like underpaying them or not paying their super, are not giving others a fair go,” Mr Bambrick said.

Mr Bambrick said most small businesses would now offer electronic payments, and only accepting cash would raise a red flag because it provides the opportunity to not accurately report all their income.

“These days, most Australians expect to be able to pay electronically, so it’s also in businesses’ best interest to provide electronic payment options, like card and mobile payments,” Mr Bambrick said.

“We’re focusing on industries that typically have high cash transactions or only take cash, like restaurants, cafes, pubs, hairdressers and beauty salons.

“Some businesses we’ve visited in other areas have needed to improve their record keeping.

“Our staff have seen cash from sales being put in boxes, or straight into wallets, and open cash register drawers. Some businesses just guess their income because, they tell us, they don’t keep good records. That’s not fair for the majority of business, who do the right thing. ”

Businesses are invited to attend a one-hour information session from either 9 to 10am or 6 to 7pm, and a record keeping information session from 10.15 to 11.15am at Peel Thunder Football Club on February 27.

For more information or to register to come to an information session visit ato.gov.au/protectinghonestbusiness.

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