ATO seeks to reassure small business over tax gaps
“I think that is a solid achievement,” the ATO Commissioner has said of the almost 90 per cent of small businesses correctly paying their taxes, while also outlining the impact arising from its local business visits.
Seeking to provide some context over the ATO’s recently released tax gap findings, Commissioner Chris Jordan said that despite small business taxes paid coming in 12.5 per cent below what was owed — a higher percentage than either large corporations or individual taxpayers — the sector is doing well in terms of tax compliance.
Read more at MyBusiness.
