According to the ATO and its latest statistics, almost 2,500 businesses in the Geelong (Vic) region and over 700 businesses in the Wagga Wagga (NSW) region, may be deliberately hiding income to gain an unfair advantage over their competitors. ATO Senior Assistant Commissioner Michael Hardy said the ATO has identified these businesses as potentially being involved in the cash and hidden economy. “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,” said Mr Hardy.
[LTN 225, 120/11/14]