An interesting example the Taskforce has shared with us relates to a Point of Sale software provider.
The ATO became aware of a company advertising that their software would enable it's user to delete transactions without leaving any trace.
This meant that businesses could make a cash sale, issue the customer with a receipt and then delete the transaction so there was no evidence that the cash wasn't banked.
The software became very popular!
So much so that the Taskforce received a warrant to gain access to their customer base. The Taskforce visited businesses that had purchased
the software as customers and made purchases using cash. They later returned and asked the businesses to show them the transactions.
Many businesses were caught out having deleted cash transactions.
Not surprisingly the software is no longer available in Australia!
In 2017 the Taskforce was in the national headlines when it revealed a massive tradie tax fraud that dominated the news cycle.
The Taskforce had discovered that suppliers and contractors were not quoting their own Australian Business Number but were instead
quoting Bunning's Warehouse Australia's Australian Business Number.
Incredibly up to 40% of ABN's quoted in the Northern Territory were that of Bunnings Warehouse.
These suppliers and contractors were doing this to circumvent having to pay tax on their income.
It was estimated that this fraud had cost the Australian taxpayer hundreds of millions of dollars in missing tax revenue.
In order to crack down on this practise in their Final report the Taskforce has included an overhaul to the Australian Business Number system including a proposal to implement real time ABN ID and verification system.
113 Raymond Street, Sale, Victoria
55 Grey Street, Traralgon, Victoria
Monday - Thursday: 9:00 AM – 5:00 PM
Friday: 9:00 AM – 4:00 PM
Other times by appointment