20 Nov 14 ATO identifies regional businesses that may be hiding income
In two media releases issued on 20 November 2014, the ATO announced that it had identified businesses in Wagga Wagga, New South Wales, and Geelong, Victoria, that may be hiding income.
In "ATO tracks down Wagga Wagga's risky businesses", the ATO says that the latest ATO statistics reveal that over 700 businesses (or 20.6% of businesses) in the Wagga Wagga region may be deliberately hiding income to gain an unfair advantage over their honest competitors.
In "ATO tracks down Geelong's risky businesses", the ATO says that he latest ATO statistics reveal that almost 2,500 businesses (or 18.2% of businesses) in the Geelong region may also be deliberately hiding income to gain an unfair advantage over their honest competitors.
Senior Assistant Commissioner Michael Hardy said:
“What we’re seeing from the information we’ve collected is that certain businesses in the building and construction industry, restaurant and cafés, hairdressers and beauticians are more likely to be involved in these activities.”