The Government has announced that it will establish a sham contracting unit — within the Fair Work Ombudsman — to address sham contracting behaviour engaged in by some employers.
The Government will still proceed with its previously announced measure to allow SBEs an instant asset write-off for eligible assets costing less than $25,000 that are first used or installed ready for use from 29 January 2019 until 7.30pm (AEDT) on 2 April 2019.
The 2019-20 Federal Budget is designed to showcase the return to surplus (and by default the Government’s economic credentials) and engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment.
$10k limit on cash payments to business One of the interesting approaches to tackling the black economy in the recent 2018-19 Federal Budget was the announcement of a $10,000 limit on cash payments to business. Unrecorded and untaxed transactions that occur in the community are estimated at up to 3% of GDP or around $50…