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.
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:
Choosing not to tell us may lead to:
late payment penalties
shortfall penalties, and
Find out more about putting your tax returns right