The simple answer is yes. If your employer or client as a self employed person pays you in cash, you need to declare it. It’s the law, and it’s the right thing to do.

At Figure It Out we love dealing with clients that haven’t done their taxes in years. It makes you happy, it makes us happy, and most importantly it makes the ATO happy and will get that monkey off your back once and for all.

At Figure It Out Accounting and Tax Agents, with offices in Sydney and Melbourne, we specialise in optimising your tax strategy. We diligently guide you through maximising deductions within your profession, ensuring a substantial reduction in potential tax liabilities. Whether you receive cash payments from an employer or operate as a business owner, we meticulously navigate the complexities to shield you from unexpected tax challenges. Additionally, it’s noteworthy that a tax-free gift of up to $10,000 is permissible annually from a single individual. Let us foster a collaborative relationship with the ATO to enhance your financial outcomes.

So contact Figure It Out to help maximise your earnings and minimise your tax debt. Call 0411 235 084 or email info@figureitout.com.au