Under the table
We're looking hard at tax crime in the building sector
We're looking hard at tax crime in the building sector
Declare it all. Or risk everything.
Tradies who do undeclared cash jobs can be hit with tax penalties, or criminal convictions that could lead to prison – costing them their
business and their income.
Doing jobs for cash or for your mates is okay - as long as you record them and declare the income when you're filing your annual tax return.
Make sure that:
- you record every job, no matter how big or small. Find out more about keeping good business records
- if you're registered for GST you charge it. You must register for GST when your annual turnover is more than $60,000
- you register your employees
- you declare all your income when you file your tax return.
If you're already paying tax on all your income, there's nothing more you need to do.
1:30 mins | Transcript
Putting your past tax returns right
If you've left some income off your tax return tell us now, rather than wait for us to find out some other way.
By making a full voluntary disclosure you may benefit by:
- not being prosecuted in court.
- having your shortfall penalty reduced by up to 100%.
Choosing not to tell us may lead to:
- late payment penalties
- shortfall penalties, and
- prosecution.
It's never too late to do the right thing
If you need help putting your returns right, please contact your tax agent. If you'd prefer to talk it through with us, you can make an appointment with one of our Community Compliance Officers - we'll even come to you if you prefer.
Know someone who's not playing fair?
You have an important role in keeping your industry fair for all. If you know someone who is doing undeclared cash jobs you can let us know confidentially
