Treasury’s black money taskforce has unearthed a scam where in many tradies have been found to have quoted incorrect ABN on the invoices issued by them. This is costing the government millions of dollars and is now under the scrutiny of the officials.
It has been observed that when business employ the services of a tradesman, on several occasions, the invoices provided have bogus ID allowing the providers to operate in the black economy. Several invoices have been found to have the name of the company but someone else’s ABN. Michael Andrew, chairman of Treasury’s black economy taskforce, has said that over forty percent of ABNs quoted in the Northern Territory were found to be that of Bunnings.
We would like to advise businesses to cross-check supplier’s invoices and ensure that correct ABN is quoted. One can refer to the Australian Business Register to check the details including the GST registrations of the supplier. There is a good possibility that the Australian Taxation Office could deny your expense claims if the details on the invoice are found to be incorrect.
For further assistance, please contact Taxplanners on 1300 000 TAX (1300 000 829), 03 9600 0143 (10 Lines).
You can also visit our office for assistance –
Melbourne CBD – Suite 411-413, Level 4, 343 Little Collins Street, Melbourne
Werribee Office – 88 Watton Street, Werribee, Contact – 03 901 MY TAX (03 9016 9829)