Paying tradespeople cash in hand

[coastymike]

Yes seen many clients subject to legal claims and successfully used their structures to settle claims for a low amount or in some cases just liquidate the entities involved and the counter parties received nothing.

 

[evand]

Obviously you are in the industry but without the jargon are you saying that clients of yours have had properties in trusts and therefore the properties were 100% protected from litigation because they were in a trust?

Yes seen many clients subject to legal claims and successfully used their structures to settle claims for a low amount or in some cases just liquidate the entities involved and the counter parties received nothing.

 

[coastymike]

Yes the properties were protected because they were in trust. The entity subject to litigation was another trust with a different corporate trustee, different directors and different shareholders. Good structuring.

 

[Bill.L]

Hi all,

Here is a question for all those taking the high moral ground.

If the purchase was for a non-deductible, no chance of anything going wrong type of good or service, would you save yourself the 10%??

For example a 10 tonne load of firewood for $1000 with receipt, or $900 for cash, for the PPOR. You can see the wood on delivery while still on the truck so any disagreement on quality or quantity happens before the transaction.

All other firewood merchants in the area do the same. Do you spend/cost yourself $100 extra or not??

bye

 

[evand]

Yes, good structuring but it seems to be at a much higher level than the mum & dad investors with a couple of IPs' trusts are constantly encouraged to benefit so much.

Yes the properties were protected because they were in trust. The entity subject to litigation was another trust with a different corporate trustee, different directors and different shareholders. Good structuring.

 

[AlmostBob]

have posted this picture before, light switch on the shower wall,
this is a type 2 electrician-- former electrician, but this one did not retain his licence

never heard of it happening,?

self preservation,
plan for the worst and hope for the best,
the worst is we kill someone, good planning, we dont.

Mike Holmes show

we all watch Holmes on Homes
we've all seen the f_ed up electrical & plumbing work, and the sparks fly, and the water run inside walls​

number 1 rated show
based entirely on the premise that there are a_holes in the trades
enough to make it dangerous,
and there are others in the trades who 'fix it right'

I have a 120+ year old house that type 1 electricians rewired 2007, and the prior rewiring that they fixed, was melting in the walls.

 

[tubs]

Speaking of the ethics of paying 'cash'...

The only purpose is to avoid tax...and when you think about the way the government spends your tax dollars, I personally dont have a problem sleeping at night if they receive a little less.