Timeline for How can I gift $41,000 to my friend anonymously? (Australia)
Current License: CC BY-SA 4.0
14 events
| when toggle format | what | by | license | comment | |
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| Jul 27, 2021 at 9:24 | history | edited | Coomie | CC BY-SA 4.0 |
Adding tax section
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| Jul 21, 2021 at 22:06 | comment | added | Kevin | @Fattie Giving someone a bunch of cash is not tax evasion. Not reporting that cash as income when filing your taxes is tax evasion. Last time I bought a (used) car I paid the previous owner in thousands of dollars of cash. If he chose not to include that income (or underreported it) on his taxes then he committed tax fraud, but the same would be true if I paid him with a check, paypal, etc. | |
| Jul 21, 2021 at 19:02 | comment | added | TTT | @henning the concern with cash is usually centered around money laundering, rather than tax evasion. But JBentley's comment still holds: It's only money laundering if it is, though it would look a lot more like money laundering if cash is used. Enough so that I would recommend not using cash, to avoid the additional scrutiny. | |
| S Jul 21, 2021 at 16:29 | history | suggested | EJoshuaS - Stand with Ukraine | CC BY-SA 4.0 |
Correct spelling
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| Jul 21, 2021 at 15:29 | comment | added | llama | If I got a stack of anonymous cash in the mail I would assume, even addressed to my name, it was the result of some kind of criminal scheme. For example: criminal 1 wants to send money to criminal 2 anonymously, criminal 2 stakes out pre-arranged address and takes any mail that is delivered before the addressee can pick it up. For some reason crim 2 misses and now I end up with it. | |
| Jul 21, 2021 at 14:17 | comment | added | Fattie | "sounds like" tax evasion in the sense that mozart "sounds like" music | |
| Jul 21, 2021 at 13:26 | review | Suggested edits | |||
| S Jul 21, 2021 at 16:29 | |||||
| Jul 21, 2021 at 12:56 | comment | added | alephzero | @JBentley Maybe they are not trying to hide anything, but if this "gift" does come to the notice of the tax authorities, the recipient is going to be flagged for a higher level of scrutiny by the tax office for several years into the future, or even for life. A nice unexpected present, not! | |
| Jul 21, 2021 at 12:24 | comment | added | CGCampbell | Has the giver accounted for the taxes that will be due on income of $41k? | |
| Jul 21, 2021 at 9:41 | comment | added | JBentley | @henning It's only tax evasion if you evade tax. Dealing in cash per se is not tax evasion. Granted that it might look like tax evasion to an outside observer, but the OP has stated they are not intending to hide anything from the tax authorities. | |
| Jul 21, 2021 at 8:40 | comment | added | pjc50 | What are you going to put on the customs form? How are you going to insure this? Isn't this just an anonymous gift to a random postal worker instead? | |
| Jul 21, 2021 at 8:23 | comment | added | henning no longer feeds AI | Sounds like tax evasion. | |
| Jul 21, 2021 at 5:04 | review | First posts | |||
| Jul 21, 2021 at 5:53 | |||||
| Jul 21, 2021 at 5:04 | history | answered | Coomie | CC BY-SA 4.0 |