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We're looking hard at tax crime in the building sector

December 20, 2019

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
  • not being prosecuted in court
  • late payment penalties
  • shortfall penalties and

•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.

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:

•having your shortfall penalty reduced by up to 100%.

Choosing not to tell us may lead to:

•prosecution.