The ATO has stated they will be visiting 10,000 businesses in the 2019-2020 financial year (in particular 500 businesses in Tasmania in March).
They will be targeting businesses advertising as cash only and businesses that are performing outside their benchmarks.
These particular industries have been singled out as being high risk:
- Restaurants and cafes
- Vehicle repairers
- Personal care businesses including hairdressers and nail salons
- Construction businesses
- Clothing stores
- Grocery stores / small supermarkets
Prior to the visits, all local businesses and tax professionals will have the opportunity to attend a one-hour information session that will explain the purpose of the visits, what to expect if visited, and how to avoid common mistakes.
It does not look like specific businesses will be made aware that they are going to be visited before a visit occurs.
If you have any questions, please do not hesitate to contact our office.