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title
Cash Economy
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The Cash Economy (or the Black Economy as the ATO refers to it) The Black Economy Taskforce The ATO are putting a large amount of resources into trying to eliminate the Cash economy. So much so they have setup the Black Economy Taskforce to combat the problem. The Taskforce estimates that the Black Economy's impact on the economy could be as large as 3% of Australia's GDP or 50 billion dollars. You can read more about the Taskforce's action plan here. Examples of the Black Economy 
 
 Electronic Suppression Tools
 
 An interesting example the Taskforce has shared with us relates to a Point of Sale software provider. The ATO became aware of a company advertising that their software would enable it's user to delete transactions without leaving any trace. This meant that businesses could make a cash sale, issue the customer with a receipt and then delete the transaction so th...
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