Stop paying tradies with cash: tax chief

Tax commissioner Chris Jordan says the black-cash economy is ripping billions of dollars out of the national economy.

The exterior of the Australian Government Taxation Office in Sydney on Monday, May 28, 2012. (AAP Image/April Fonti) NO ARCHIVING

The exterior of the Australian Government Taxation Office in Sydney. (AAP Image/April Fonti) Source: AAP

The tax commission is imploring people to stop paying tradies with cash because it's costing the economy billions of dollars.

His call comes after reports of tradespeople issuing fake invoices using a Bunnings business registration number, or ABN.

"If you pay cash for a discount, in many cases you are effectively ripping off yourself as an Australian taxpayer because this type of behaviour is what sees billions flow out of the tax system and into the cash economy," Australian Taxation Office chief Chris Jordan told The Australian on Friday.


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Presented by Justin Sungil Park
Source: AAP

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