There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of sales, have a book full […]
Declare or Beware: A short piece about receiving cash payments in the building and construction industry
The building and construction industry often pays contractors a cash income. New ATO data matching means all cash payments must be reported to the ATO.