Crackdown on cash

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The Australian Tax Office is tightening the net on tax evasion with increased audits and data matching checks. Catherine de Fontenay, economist from Melbourne Business School says that if you make it easy for people to do something, they will often do it. The implication is that if you give people a big red button to pay their tax, it would be paid immediately. Another option is to treat the cash economy as collusion. The ATO could offer incentives to encourage people to report tax evaders. …   [Read Full Text]