SMSF – ATO finalises its position in relation to event-based reporting
After detailed consultation with the self-managed super fund (SMSF) sector, the ATO announced today that its i
Your employer may pay your wages to you in cash (or with a cash cheque), rather than into your bank account. Paying wages in cash is legal and may be more convenient.
Some businesses deliberately use cash transactions to avoid meeting their tax and employee responsibilities.
If you receive ‘cash-in-hand’, you need to:
If you are being paid cash, you:
Tips are income. If you receive cash tips, you must declare them on your tax return – regardless of how you receive them. It makes no difference if tips come from your employer or direct from customers.
Some tips are collected for all workers (like in a tip jar) by employers and shared between employees. These tips are part of your wages.