The Black Economy, the ATO and Security - What do you need to know?

The Black Economy Taskforce estimates that the black economy is
costing the Australian community as much as $50 billion, which is
approximately three percent of Gross Domestic Product (GDP). In
order to better protect the economy, the Australian Taxation
Office (ATO) introduced the Taxable Payments Reporting System
(TPRS) for businesses providing security, investigation or
surveillance services as of July 1st, 2019. To help us understand
how the TPRS scheme works, who it effects and what people need to
do, we spoke with Marcus Chew, Director of TRPS at the Australian
Taxation Office.