Black Economy Measure: Increasing the integrity of government procurement

Geoffrey Yiu & Daniel Kostoski discuss a new measure aimed at increasing the integrity of government procurement.

All Australian and foreign entities seeking Commonwealth Government contracts worth over $4 million including GST should be aware of the new procurement process, effective 1 July 2019.  Policy requirements state that a satisfactory Statement of Tax Record (‘STR’) must be obtained from the ATO by the tenderer and any first tier subcontractors before the awarding of the contract.The  Australian Taxation Office (ATO)  expects to be in a position to allow online STR applications fr...

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Authors: Geoffrey Yiu, Daniel Kostoski

Published Date: 17 May 2019