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Undeclared Cash Jobs

Grange Associates Ltd - 18 January 2016

The IRD has recently been focusing on undeclared cash jobs, particularly in the construction sector. They have been making contact with some in the industry to clarify the obligation to declare all income, including cash jobs no matter how big or small, when filing GST returns and income tax returns.

The consequences of being caught not declaring these cash jobs can include late payment and shortfall penalties and even criminal prosecution. This can have a considerable impact on both business and personal circumstances.

For taxpayers with undeclared cash jobs, a full voluntary disclosure can be made, which can result in a reduction in any penalties that may be applied.

If you have any undeclared cash jobs which need to be declared, please contact us and we will advise you on the correct way to deal with these.

All information is correct at the date of article publication. Please note we provide the information as a service only. Accordingly, the contents are not intended as a substitute for specific professional advice and should not be relied upon for that purpose.

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