Inland Revenue is currently engaging with the construction industry to ensure they’re ‘getting it right from the start’ around tax obligations if they undertake cash transactions.
IR’s research indicates that people are more likely to engage in hidden economy activity (e.g. cash jobs) in an environment of economic uncertainty, such as the current COVID-19 environment. The goal now is to reduce the risk of this through awareness, education and compliance.
If this affects you, visit
ird.govt.nz/Rebuild-NZ to find out how to ensure you’re meeting your tax obligations as well as doing your bit to help rebuild New Zealand.
If you think you need to make a voluntary disclosure,
get in touch and we’ll help you through this.