Every underclared cash job leaves a trail.
The Inland Revenue are looking hard at tax crime in the construction industry. They will be contacting tradies to encourage them to declare all of their income through their GST and income tax returns. While most people in the construction industry are doing the right thing, they are reminding you that undeclared cash jobs can have negative consequences. They can result in tax penalties, a criminal conviction that could affect their ability to contract for work, and even prison time.
If you have left some income off previous returns, it’s best to let the Inland Revenue know now rather than wait for them to find out another way.
Visit ird.govt.nz/getitright for more information.