1 November 2019
We've been measuring the difference between the tax we collect, and how much we would collect if everyone paid the right amount. We see that almost 90% of the income tax we expect from small businesses is reported and paid voluntarily.
We know most small businesses are trying to do the right thing – but not everyone is paying the right amount of tax.
Some people are deliberately trying to avoid paying the right tax - we call this 'black economy behaviour' and we've got a range of strategies in place to address it. Others are just making honest mistakes. However, it all adds up and it's costing Australia around $11 billion in lost revenue. This means there is less money to deliver vital community services.
Mistakes are easy to avoid if you get the basics right:
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