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READ MOREBlack economy denial of tax deduction moves represent an effective ’big stick’
Moves to crack down on the black economy through denial of some tax deductions to business have been welcomed as an effective "big stick" to change poor behaviour.
Tax experts have welcomed plans by the federal government to extend denial of a deduction in situations where businesses fail to withhold certain pay-as-you-go amounts from salary and wages for employees, and from payments to contractors who do not quote a valid Australian Business Number.
Read the full article at the Australian Financial Review.
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