how easy is tax evasion if you make money by cash in hand trades

[twilight]

i'm starting to buy certain electronics for cheaper and reselling them for a profit, i will do most of this in person instead of online so can I just not report these tax earnings? there's no way they would find out right?

 

[gooner23]

i'm starting to buy certain electronics for cheaper and reselling them for a profit, i will do most of this in person instead of online so can I just not report these tax earnings? there's no way they would find out right?

If its cash only your gonna have to hold the cash for a while can't really purchase anything in your name or they get suspicious

 

[gooner23]

i doubt your gonna be making 45k+ using cash only for reselling

 

[twilight]

i doubt your gonna be making 45k+ using cash only for reselling

yeah definitely not, just a side hustle, i would be making 2-3k monthly maximum but i have a casual job i get taxed on anyway so i doubt they would notice anything off if money is going into my account

 

[AlexBrown84]

very easy

 

[eduardkoopman]

Very easy. Yeah.

To add.
If it decent size.
Don't report nothing. But report some of it.
If one reports nothing, than it's much easier for the irs to catch you, because they can proof you lie, when you report nothing.

 

[twilight]

Very easy. Yeah.

To add.
If it decent size.
Don't report nothing. But report some of it.
If one reports nothing, than it's much easier for the irs to catch you, because they can proof you lie, when you report nothing.

in my country australia the winnings you get from gambling are non taxable so some people who do cash in hand jobs put money into casinos and then direct it to their bank account as a legitimate receipt of gambling winnings, seems like the ATO doesn't have the resources to track every single person doing stuff like this

 

[eduardkoopman]

in my country australia the winnings you get from gambling are non taxable so some people who do cash in hand jobs put money into casinos and then direct it to their bank account as a legitimate receipt of gambling winnings, seems like the ATO doesn't have the resources to track every single person doing stuff like this

They can proof you advertise stuff to sell.
Than you fucked.
If you reported nothing.

 

[twilight]

They can proof you advertise stuff to sell.
Than you fucked.
If you reported nothing.

true i will definitely report some if i make it big.

i advertise on fb marketplace under a fake name so doubt they could link it to me

 

[eduardkoopman]

i advertise on fb marketplace under a fake name so doubt they could link it to me

If one just reports some. Than one don't even have to worry about that.
While if nothing ever is reported, you do have to worry about that.