The Daily Telegraph yesterday reported that more than 120 people a day turned informant on their bosses, neighbours and even former lovers last financial year to accuse them of tax fraud through a confidential hotline.
Over the past three years a whopping 140,616 Australians called the Tax Evasion Hotline to accuse others of cheating on their tax. It seems the ATO are keen to follow up on these leads with more than $4.4 million in lost revenue already identified as a result of the information supplied in 2006-07.
Businesses failing to report cash income was the most common tax evasion practice followed by paying cash-in-hand wages.
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