Black economy measures draw a wide net

Article

Black Economy measures draw a wide net - Updated 2 September 2019

Tax insights

New legislation directed at black economy behaviour is likely to impact many ordinary business dealings.

Explore content

On 29 November 2018, Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Bill 2018 received Royal Assent. The Bill covers a wide range of measures drawn from recommendations from the Black Economy Taskforce Final Report and includes measures to:

  • Deny an income tax deduction for certain employee/contractor payments if the associated withholding obligations have not been complied with; and
  • Require entities providing road freight, information technology or security, investigation or surveillance services to report to the ATO under the Taxable Payment Reporting System.
Black economy measures draw a wide net - 2 September 2019
  • Contact us
  • Submit RFP
  • Our solutions

    Progress your business growth and development

    Take a look at the products and services we offer.

    Tax services

    As a global tax leader today, your reality is a fast-changing landscape, from which new ideas, demands, and operating models emerge. Leading through this change and complexity is your priority. And supporting you with this is ours.

    Indirect tax

    Indirect tax is becoming many governments' preferred method of revenue raising. It’s more critical than ever to manage indirect tcompliance and cash flows. Deloitte’s indirect tax experts understand the nuances of regulations, the importance of industry knowledge and the growing role of technology.

    Tax management consulting

    With consulting, technology and outsourcing experience, Deloitte TMC helps businesses meet the challenges of multi-jurisdictional tax operations, including compliance, reporting and risk management for direct and indirect taxes. 

  • Our latest reports and thought leadership

Explore content

Did you find this useful?
ATO publishes draft practical guidance on arm’s length debt test - 28 August 2019  

Reportable tax position regime extended to private companies - 1 August 2019

Tax Insights

Related topics