The Black Economy Taskforce was established to develop an innovative, forward-looking, multi-pronged policy response to combat the black economy in Australia, recognising that these issues cannot be tackled by traditional tax enforcement measures alone.
The Taskforce’s Final Report has now been released along with the Government’s response which includes the announcement of several new measures in the 2018-19 Budget.
The Taskforce’s Final Report highlighted the harm that the black economy causes to honest businesses and the community, penalising honest taxpayers, undermining the integrity of Australia’s tax and welfare systems and creating an uneven playing field for the majority of small businesses doing the right thing. The report makes 80 recommendations to the Government.
The Government’s response to the Taskforce’s Final Report endorses most of the recommendations made (including supplementary recommendations) and announces a whole-of-government blueprint for tackling the black economy.
The Government will shortly commence a consultation process seeking public and stakeholder views on certain measures announced in the 2018-19 Budget
Questions regarding the Black Economy Taskforce can be emailed to firstname.lastname@example.org.
Media enquiries can be sent to email@example.com.