2018-19 Budget Black Economy Measure- Removing tax deductibility of certain payments

The Government has released for public consultation exposure draft legislation and explanatory memorandum to remove tax deductibility of certain payments - including payment of wages and payments to contractors - if the entity making the payment fails to comply with its obligations to withhold and report information to the Commissioner of Taxation. Stakeholders are invited to comment on the exposure draft legislation and explanatory material. The closing date for submissions is Friday 17 August 2018.