"Chinatown" news.china.com.au-Official media of Chinese Australians

In Australia, don't think that if you secretly earn a little cash and put it around, you will be unconscious. Well, you will be surprised when the tax bureau staff comes and knocks on the door.

Recently the Australian Taxation Office (ATO) recently announcedA major policy.

The Australian Taxation Office announced that it will conduct a thorough investigation of Australian cash transactions and pursue the black gold economy.The Chinese owners are the first subject to be investigated!

According to a report in the Sydney Morning Herald,All restaurants, cafes, takeaway shops, hair salons, beauty salons, nail shops, courier services, carpenters, electricians, plumbers, construction industry mechanics, cleaners, large garbage recycling industries, etc.... Almost all small business owners are under attack.

In July and August 2014,ATO has sent 40 Mandarin-speaking and Cantonese investigators to visit 140 restaurants and coffee shops in the Sydney Tang Dynasty.Remind small business operators to comply with their tax and pension obligations!

And started a lot of small businesses43 audits,Recovered up to 820 million Australian dollars in taxes.

Now, the Australian Taxation Office has hired to sayOmbudsman in Asian languages.

In Sydney, Melbourne, Gold Coast, Adelaide and all of Australia,Investigate all small businesses,Especially those operators who only accept cash!

ATO stated that concealing income is often used in cash transactionsAvoid paying taxes,There are approximately 160 million small business operators in Australia, designing 233 different industries,Used to collect cash and conceal income to avoid taxation,And these companies are now within the radar of ATO!

ATO estimates that more than 58% of hairdressing and beauty industries only accept cash, while as many as 45% of restaurants, coffee shops, fast food restaurants and catering industries only accept cash.ATO issued a warning about this, all operators must fulfill their obligations! Otherwise they will be audited!

The ATO's investigation action is mainly aimed at not reporting all operating income, paying salaries without correct calculation, or not providing employees with pension insurance, etc.

According to reports,Every year, how many 5500 employees report to ATO about their boss' illegal payment of cash wages!

The ATO said that they will deal with these reports very seriously. During the investigation, the ATO will also investigate whether the boss has paid the employee’s pension correctly. Therefore, people who work in restaurants, coffee shops, and takeaways should alsoPay attention,If there is an illegal part-time job, it will also be reported to the immigration bureau by the ATO!

In 2015,The Australian Taxation Office has cooperated with the Australian Immigration Service,CorrectAs many as one million visa holders are reviewed!The Australian Taxation Office has obtained at least one million records.

It is understood that overseas students are also the targets of this operation, and the Chinese students who are studying abroad are bound to be affected.

The Australian Taxation Office stated in a government notice thatThese records will be electronically compared with data from the Australian Immigration Bureau to "identify violations of tax laws and regulations regarding registration, tax filing, reporting and payment obligations."

News compiled from "smh"


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