$1m penalties set to kick in for dodgy sales tools
March 2019
Clients who possess electronic sales suppression tools will have just over three weeks to come clean before $1 million penalties kick in.
New laws passed last year made it illegal to manufacture, distribute, possess, use or sell electronic sales suppression tools (ESSTs).
According to the ATO, clients who possess an
What is an electronic sales suppression tool?
Taxpayers who produce, supply, possess, or incorrectly keep tax records using an
ESSTs allow income to be under-reported
The ATO has made its position clear
Clients who possess an
"For any clients who have used an
"In either case, your clients will need to contact their point of sale (POS) system provider to remove the
"If your clients are concerned their POS system may have an
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Disclaimer
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.
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