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GST Crackdown Update
15 February 2011
The ATO has updated its advice about the crackdown on GST compliance, which was announced in May 2010. According to business website SmartCompany the ATO will be targeting businesses that have fallen behind in lodging their business activity statements, property transactions and refund fraud as part of a four-year crackdown. The property industry will be a focus in 2011, particularly as property deals are the biggest GST related transactions the ATO tracks.
The ATO has released guidelines about the methods it will use to encourage business to lodge their BAS on time, including SMS messaging before lodgement date as well as how it will contact taxpayers with overdue activity statements.
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