Quote:
Originally Posted by Dr Terry
Not just income, which really only applies to dealers, but to keep track of the 'black economy'.
There is a lot of cash out there of which the authorities (police & ATO) would love to know the origin.
Dr Terry
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Only reason i ask is
if sold my car and received cash on the weekend, i wouldnt report. For a car i paid for in cash which was taxed through employment income, and paid tax on products and services spent on the car in the time i owned it, and refuse to pay tax from the sale of the car.