Are you a tradie or small business that needs help to put your tax affairs in order? Then call us be
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.