Kelly ABN assault lowers living standards
There may be "a role for more active verification of ABNs in some instances," Treasury suggests in a consultation paper on a review of the Australian Business Number system, released on Friday.The Minister for Revenue and Financial Services, Kelly O'Dwyer, said the "consultation paper seeks views on designing a modern ABN system — one that provides improved confidence in the identity and legitimacy of Australian businesses."Bright ideas of the Black Economy Taskforce are taken up."To access trade discounts on purchases, ABN holders should have to provide their ABN to the seller. The seller should be required to verify the ABN and record the transaction details. "The taskforce had said this was "to counter individuals fraudulently accessing special offers only available to ABN holders, such as discounted phone plans, vehicles or hardware.""The taskforce also recommended that stall holders at large and organised markets and food trucks should be required to display their ABNs, and that market operators should also be required to maintain a list of stallholders that can be reported to the ATO as required."Treasury speculated that "changes to the ABN system, or related systems and laws … might include increased visibility of ABNs as part of business dealings or better linking ABNs to other systems (such as payment platforms)".Treasury is seeking feedback by the end of August.