At Crown Casino (Melbourne), I believe any winnings in excess of $2,000 must be paid by cheque for electronic gaming machines. Not sure about the tables and if that is the same. I suspect heavy gamblers will have Crown deposit accounts and other forms of ID to play eg Crown signature club
Does Banks have access to ATO tax records
- Thread starter House monster
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At Crown Casino (Melbourne), I believe any winnings in excess of $2,000 must be paid by cheque for electronic gaming machines. Not sure about the tables and if that is the same. I suspect heavy gamblers will have Crown deposit accounts and other forms of ID to play eg Crown signature club
If I could add that due to you becoming conscientious suddenly it is quite important that you tell the poor sod who payed you cash if it was from a single source say a company or a material amount of it was from one source. Declaring it will get them in even more **** than you for potentially avoiding payroll tax, workers comp as it is likely you would be classed as an employee rather than an independant contractor etc etc and then the investigation into their own affairs, i.e. where did the cash come from?
They need to know so they can fix up their end first if you suddenly go conscientious.
They need to know so they can fix up their end first if you suddenly go conscientious.
It would definitely be tax evasion. If the ATO audits you, they can look at all your bank statements, and ask where you got the money to pay 48k off the mortgage.
I actually doing nude modeling and sometime escort job (not prostitute though, i don't need that). You might see me in a adult magazine (not telling which one for my confidential). Mens just love shower money to me (since i got that attractive look that men fall in love with me so easily). I had stop for a while doing nude, but will go back doing that when i have my cosmetic surgery done next month. But any way, by reading through the post, i just realize that i actually is going to pay tax, coz i need to declare the capital gain that i make in my investment property anyway. But just in case in the future, which i am capable of making 120K cash per year. Thinking to open an account oversea. Do you guys know which oversea bank that ATO can't access in?
Hmmm......why avoid tax?
Do you know that there are serious criminal penalities for Tax Evasion??
If you get caught....you might also have to sell all your properties to pay your debts.
By all means minimise tax...but it is not worth evading tax.
Do you know that there are serious criminal penalities for Tax Evasion??
If you get caught....you might also have to sell all your properties to pay your debts.
By all means minimise tax...but it is not worth evading tax.
Ah, I had to laugh Pretty.
OK, P, if what you say is true, do you believe that anyone would be naive and silly enough to give advice for you to evade tax?
Maybe your clients could give you advice?
OK, P, if what you say is true, do you believe that anyone would be naive and silly enough to give advice for you to evade tax?
Maybe your clients could give you advice?
Losses ? if anyone can claim losses on gambling. i'll be the first to pull out my membership crown card
which shows the points on money exchanged.
Ok Rick.. what about $2k in cash or $3k.......... 10 times in 1 year (remmber tax retuirns contain annual amoutns)..... ?
It's a valid question I think, I don't knwo the answer to it.
Section 14ZZO of the Taxation Administration Act 1953 states 'the appellant has the burden of proving that... if the taxation decision concerned is an assessment -the assessment is excessive'
What this means, is if the ATO believes an amount is income it will be upto the taxpayer to prove why it isn't. In the case of gambling you would have to show specifically when, where and how the amounts were won. This may include going back to the place you won and requesting any documentation they hold relating to amounts paid out to you as winnings.
If you don't have any documentation and the ATO considers it income and you then wish to appeal against the ATO it will go to the Administrative Appeals Tribunal and will be upto the judge to hear both sides and make a determination. But remember the above legislation which really puts the onus back on the taxpayer who needs to argue their case convincingly.
Losses ? if anyone can claim losses on gambling. i'll be the first to pull out my membership crown card
Hehe yes i'm sure that's one reason why Australia doesn't tax windfall gains from gambling, then they would open the door to everyone claiming losses
The only reason you'd need to keep records on losses is if you were saying cash is from gambling winnings and you need to incorporate the losses into calculating your overall profit position
just do the right thing and declare and get an accountant
or buy an rental apartment and then prepay the interest in advance and roll the money by having the rent return to you.
Not worth the risk if you ask me.
or buy an rental apartment and then prepay the interest in advance and roll the money by having the rent return to you.
Not worth the risk if you ask me.
If you are always bringing in over 10k....at somepoint someone at AUSTRAC (monitoring agency) is going to pick this up.
At that point either the AFP or ATO might come knocking.
At that point either the AFP or ATO might come knocking.
My former country, my family never pay tax (average wages), my brother in law pay 11% tax (the maximum in that country) because he earn around 5K per month which consider a lot in that country. I can open an account there under my family name but they will think i got money and start using my money.
There is a lot of tax haven country, which they don't check on foreign income in that country.
There is a lot of tax haven country, which they don't check on foreign income in that country.
Last year i did twice bringing in more than 10K but when i come back i come back through my former country, they do question me a lot where i get this money from and i said is from my family investment back in my former country (family's business) i won't always bring more than that, i know i will get into trouble. The custom straight away know when traveler go through the border.
I travel a lot oversea every week and always bring back like near to 10K. If i have more than that, i will spend it on cloth, fine dining and luxury hotel.
Are you able to say which country is your former country?
If you keep bringing in say $9990....it is called structuring under Money Laundering crimes. Potential jail terms are huge if they can prove that you have committed an offence.
You are taking a big risk...why not just go legit???
Also, I hope you are not claiming social security benefits....because then it is going to get really interesting if you ever get caught. You may end up in the front page of Melbourne Age!!!
If you keep bringing in say $9990....it is called structuring under Money Laundering crimes. Potential jail terms are huge if they can prove that you have committed an offence.
You are taking a big risk...why not just go legit???
Also, I hope you are not claiming social security benefits....because then it is going to get really interesting if you ever get caught. You may end up in the front page of Melbourne Age!!!
To be honest i don't claim any benefit. I don't born here in Australia and my mentality is difference (i don't relied one anyone or government). I am lucky because i got a huge inheritance from my late partner (never dream to have one always work hard for my independence). I had a lot of money in my bank (from the investment that i sold last year). Do you think i qualify for benefit. I know people in 3rd world country live hard life. When i am in Melbourne i live normal and i don't like living luxury. I spend my own money and plus guys love to buy cloth (i choose the cloth they pay) and take me out for meal, so I have donated more than 6K to charity last year. I will keep donating my cash money to charity. I do claim that donate money to the tax office for my income purpose deduction. Because i have rental income last year.
By the way confidential about my identity.
I feel like i am retiring now. Nude modeling just a hobby for me I don't need to work, i am not desperate, that why i didn't work since May last year and my boyfriend quit his job too. He rely on me. And with the money in the bank my boyfriend and i can live forever without working, but i think if i don't expose my self to the world and meet guys, i don't feel myself. May be is a obsession that i have
By the way confidential about my identity.
I feel like i am retiring now. Nude modeling just a hobby for me I don't need to work, i am not desperate, that why i didn't work since May last year and my boyfriend quit his job too. He rely on me. And with the money in the bank my boyfriend and i can live forever without working, but i think if i don't expose my self to the world and meet guys, i don't feel myself. May be is a obsession that i have
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