Recently IRD have launched and advertising campaign on undeclared cash jobs and how easy it is to be traced back by the IRD. It mostly was targeting the building and construction industry because workers did not always declare their full income.
If you have received cash jobs or paid out cash, you must make sure that:
- All jobs are recorded to keep a good business record. This will help you declare all income when filing your tax returns
- Register all employees. Paying cash to your employees and not filing employer returns will come back to you.
- Late payment penalties
- Shortfall penalties
If you do not declare your cash jobs may lead to:
If you have left some income out of your previous tax returns, rather than wait for IRD to catch you contact us and we will be able to help you out.