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Thread: Aussies - please help me with tax dilemmas!

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    Mind Blowing Aussies - please help me with tax dilemmas!

    Hi ladies,

    I began dancing in July this year and have been told by one of the girls at the club not to deposit money to my account, because if you do, you have to pay tax on it - is this true?
    If so, how do you claim your earnings and pay minimal tax?

    Once I pay my house fee, I receive receipts of what I've paid - should I keep these? So far I have, in case it is of benefit for me to present these at tax-time. The nights that I work do not go on record.

    Also, how can I locate a sex-worker friendly accountant? I'm located in Melbourne if that is any consolation.

    Thank you! xxx

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    Default Re: Aussies - please help me with tax dilemmas!

    I'm no expert on Australian tax law. However, I am 100% certain that the law requires that income be reported, and that appropriate taxes be paid.

    Essentially, what the girl at the club was telling you about is a potentially effective way to break Australian tax law without much probability of getting caught. Depositing your dancing earnings in a bank account creates a 'paper trail' that those earnings exist, a 'paper trail' which Australian tax auditors can potentially follow back to you if you fail to report them on an annual tax return. Avoiding banks, and dealing 100% in cash, avoids the creation of that 'paper trail'.

    The flip side of keeping cash earnings 'under the radar' is that, officially at least, those earnings don't exist. Thus when the point in time arrives when you wish to take out a loan to purchase a car or a house, that 'under the radar' cash cannot be used to make a down payment without attracting the attention of Australian tax auditors. Additionally, if those earnings don't officially exist, those earnings cannot be counted in regard to your ability to repay a loan.

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    Default Re: Aussies - please help me with tax dilemmas!

    The first $18,200 per tax year isn't taxed. So you could deposit atleast some, and declare atleast some. Being audited is a risk whether you deposit or not.

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    Default Re: Aussies - please help me with tax dilemmas!

    Yes you should always keep receipts.

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