The ATO sensationally banned credit cards after stating they did not consider it fair to absorb those costs which the taxpayer would ultimately pick up.
However, it appears the ATO was closely watching the fallout from the RBA decision to ban surcharges being passed on and took a leaf out of small businesses book.
A source close to the Tax Man told The Times,
“Like many small businesses they figured cash is king again and decided to ride the wave of momentum for cash, they figured no one would ask questions as they were in a cash frenzy”
That’s where the 10% discount for paying your tax in cash formed.
Alas, some cynical individuals are accusing the ATO of jumping on the cash is king bandwagon with more sinister motivations.
An expert in avoiding tax told The Times,
“PRETTY tempting right? Pay cash pay less tax but what happens when they start asking where that cash came from… it’s a trap! Run!”
They have you there ATO.