20 Jul 11 ATO continues to clamp-down on GST fraud and cash economy
In media release No 2011/39, issued 19 July 2011, the Commissioner, Michael D'Ascenzo, said that the ATO continues to clamp-down on GST fraud and those not reporting cash income.
"A key part of our Compliance Program is increasing our focus on non-complying taxpayers in the GST system, with $337 million provided in last financial year's budget for this purpose. We are also focusing on those who fail to report some or all cash transactions. While it is not illegal to trade in cash it is illegal to not report it," Mr D'Ascenzo said.