How good are you at telling the truth?
It’s really important to be as honest as possible with the ATO, especially if you are claiming any of the stimulus measures currently on offer.
The Tax Office has teamed up with the Australian Federal Police to catch the cheaters. Penalties are likely to be severe. (Up to 10 years in jail severe)
The best option is to speak honestly to your bookkeeper & accountant so you can get the best advice – that fits inside the law.
Pinocchio isn’t the poster boy for small businesses!
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