This submission was originally published on 18 August 2017.
BDO welcomes the opportunity to provide feedback in response to the public discussion about the black economy including the:
- The Black Economy Taskforce recommendations that have been accepted and will be implemented by the Government (as announced in the 2017/18 Federal Budget)
- The Black Economy Taskforce Interim Report dated March 2017 (Interim Report)
- The Black Economy Taskforce Consultation Paper dated August 2017 (Consultation Paper).
BDO recognises that the black economy erodes the Australian tax system and support the need for a broad range of measures to successfully deal with the black economy.
We have extracted key recommendations from the Interim Report and Consultation Paper below and provided our comments on each of the recommendations.