The dodgy tradies have been listing the Bunnings Warehouse ABN on their invoices instead of their own, with over 40 per cent of invoices in the Northern Territory naming the hardware giant, according to The Australian.
Using another ABN allows the contractor to avoid paying tax on the transaction. If they pay in cash, it’s almost impossible for the ATO to trace – and it’s costing taxpayers millions of dollars in revenue.
“Of course, every tradesman goes to Bunnings. They get an invoice – the ABN’s up top,” Michael Andrew, the chair of Treasury’s Black Economy Taskforce said.
The idea is that Bunnings makes so much money, that a few quotes for taps and toilet seats will simply disappear into the system – which they have until now.
The Taskforce is now planning a crackdown with a report on changes to the ABN system due in October.
‘Til then, it looks like Bunnings really is the home of the lowest prices.