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IRD confirmed they are continuing to focus on undeclared cash jobs in the construction industry

December 15, 2016

IRD have recently sent emails to Tax Agents confirming that undeclared cash in the construction sector remains a high priority for them. You’ll probably recall recent advertising that IRD have done, and you may have seen the advertising that IRD are running at the moment.

IRD are letting Agents know they are going to write to some construction clients again about it. IRD are reminding them of their obligation to declare all their income, including cash jobs – no matter how big or small – when they file their GST and/or income tax returns.

IRD is getting smarter at finding people who are not declaring all their income and there are consequences of not declaring income which can include;

  • IRD investigations and audits are time consuming and stressful
  • tax penalties,
  • criminal convictions or their ability to contract for work - which could have a considerable impact on their business and personal circumstances

If you have not declared cash jobs in your income, please contact us now – its much better to make a voluntary disclosure to the IRD than have them contact you!

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