The Redbourne Group has met its Payment Gateway Provider ATO Reporting obligations for the 2018 financial year.
2018 ATO Reporting ensures ethical operations
It has been a recent requirement from the Australian Taxation Office for payment processors, like redPAY, to provide monthly or annual transaction data.
The provision of this data helps the ATO to combat tax fraud and money laundering. The Australian government is steadily increasing its surveillance of financial transaction activity across all sectors of the economy. A major Australian bank recently came under significant public scrutiny during the banking royal commission over its weak anti-money laundering practices.
All new business customers of redPAY are vetted through our risk assessment process to ensure only legitimate business operators are onboarded.