Have a say on Black Economy

26 May, 2017

The Commonwealth Government has established a Black Economy Task Force to tackle the black economy.

A public discussion about the black economy – also known as the shadow economy or cash is important to fully examine this issue.

Clamping down businesses and individuals which operate outside the tax and regulatory system is a matter of fairness otherwise businesses, employees and consumers who do the right thing are directly penalised.

The Task Force has released its Interim Report, which discusses the scope of the black economy, likely drivers of it and potential policy responses.

The Black Economy also enables the exploitation of workers, abuse of the welfare system and undermines community trust in the tax system.

In Australia, it could be at least as large as 1.5 per cent of our gross domestic product, or around $24 billion dollars.

Task Force Chair Michael Andrew will hold two events in Perth on May 30 as part of his trip around the country to engage in a national conversation with the community.

The events include: