Recent reports released by the Australian Taxation Office (ATO) have shown than more Australians are dobbing in others to the taxman than ever before.
The ATO Tax Evasion Hotline has received 30,500 reports from the community last year, along with a further 16,000 complaints received by employees in relation to employers’ superannuation guarantee obligations.
accountantsRus CEO, Adrian Raftery said this practice is “un-Australian” but fears the numbers will rise as “businesses continue to struggle during tough economic times.”
Raftery says that the cash economy was a main area of ATO compliance activity last year with over $100 million recovered in tax liabilities alone. With the global financial crisis putting pressure on Treasury to collect more tax revenue to cover shortfalls, Raftery expects the level of ATO activity to increase in the coming year.
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