in the cash economy is a deliberate attempt to under-report or omit
economy activities include businesses:
- paying wages 'cash-in-hand'
- skimming some or all of the cash takings
- running a part of their normal business activities
- not reporting the value of goods and services provided
in exchange for other goods and services
- operating underground - that is, avoiding their
obligations by not registering or lodging returns.
cash economy is also referred to as the 'black', 'hidden' or
'underground' economy. The essential characteristic is that
transactions go unrecorded and unreported.
majority of taxpayers do the right thing; however some people
deliberately engage in cash economy activity to evade tax obligations
and to seek an unfair business advantage.
are committed to detecting and deterring cash economy activity by
taking firm action against those seeking an unfair business advantage.
In doing so we are helping to ensure that there is a level playing
field and that businesses doing the right thing are not disadvantaged.