Hey Veeky Forums. I make money cash in hand (in Australia). Is it risky to put it in the bank...

Can't you just buy prepaid cards and use those rather than bank issued cards?

The other thing is converting your FIAT into other assets that are easier to store/can hedge against inflation. Are there any bitcoin ATMs in your town? Are there coin shops around? Perth mint has some very nice bullion, so you could split your cash into crypto and bullion for storage!

If there are no shops, keep in mind you can also buy bullion online with bitcoins. I'm not sure exactly how much before they ask for ID though.

Holy shit, it's actually possible to become a millionaire only doing honest work

Are you a dude or a girl

Alright, since you gave me an actual answer I'll give you one.

You make to be making atleast a couple of grand a month, likely more like 10K a month.

So, you have to do it the legal way. On Alibaba buy $100 worth of phone cases. Take your shitty phone cases and rent a stand on a local market or whatever. Do this one or twice a month.

1. set up stand
2. youll sell a couple of cases
3. after the event is over throw out the cases
4. if a case cost you .50 youll sell for $10 each
5. thats a %5 washing fee excluding the 50 bucks for the stand

You can scale this up to 5K a month if you do like 2 stands a month.

protip: sell something you like selling

youtube.com/watch?v=stYGIt9vJKA

If I lived in a big city and took multiple clients a day then yeah, probably. Adelaide is pretty slow though.

Dude.

Eh, generally less than 5k a month, I don't work much and I like it like that. If I wanted to I could move to Sydney or overseas and make more. That plan of yours is too elaborate and involved, I like the job I have specifically because I don't have to work very hard/long to support my video game addiction.

move to nsw or act ya dumb dog

Are fuckcoins illegal in straya or something?

Well laundering 5K a month without getting caught should take a bit of time.

This explains all those muslim cunts in my local shopping centre, that seem to sell nothing, but stay in business for 20 years

Are you one of those hairless femboys that post on /b/ or are you a dude dude

My friends and family live here though.
bitcoin you mean? No.
Why must life be this way
I shave my pubes, butt, and armpits, I have no chest hair, but I don't shave my legs. Does that count as hairless? Either way, I don't post pictures of myself on /b/, couldn't be fucked.

I visit an escort regularly, pay her in USD every time. She pays taxes on them but has a cash business front that can explain the cash she deposits on the bank.

I assume you could do the same in Australia?

She routinely tells me that every 3 dollars I give her, the government takes a dollar.

If I'm gonna have to lie to the government in order to pay THEM taxes, I'm not gonna pay taxes.

Then you're probably going to fuck up and go to prison. Believe me, hairless gay guys don't get paid for all the shit they get used for there.

user-kun, I can help you with laundering the money.

Does it involve me sending it to you?

So just live cash rich then. I don't see the problem.

I also wanna trade stock options. If I can get the hang of trading by the time I'm old and undesirable hopefully it'll be enough so I don't have to find other sources of income. I could probably just take deposit money in the bank and use it, and if questioned I can claim it was just saved up birthday money or some shit. Other sources I'm reading online are claiming deposits under $10,000AUD are chump change from the banks perspective anyway.

Then pay the tax man, there are measures in place at least in the American banking system if you do multiple large deposits that makes it look like you are trying to circumvent the 10000 dollars deposits gets reported to the tax man shit, you are gonna get your ass pounded for free in Aussie jail.

Actually I don't know if Aussie jail is like American jail.

Not necessarily, but upon reading the thread there's some pretty solid advice. Also, you can buy the phone cases and pay some teenager to sell them for you or something like that so you have less work.

Nah mate, once u go cash u can't never go back.
If u want to keep ur money safe buy bitcoin or ETH, you can buy avoiding bank transactions.
As for expending money just use cash for everything.
There is no set amount of money that will get them to auditor you, essentially any unusual transaction could be a reason for them to look into your assets, if you usually move less than 1k a week in your bank account and then suddenly do a couple 3-4K transactions a week, that's enough for the ATO to start looking into you.

Buy bitcoins with cash, sell later for whatever purpose u need the cash, you don't have to pay taxes for profits below 10k, but you show the sell anyways as means to prove where u got the money from.

Could he say that he made the money on crypto?

>do a couple 3-4K transactions a week

It would be nowhere near that much. For the most part I'd just be putting superficial amounts of money in there so I can buy steam games and shit. The only thing is I wanna put in 5k for a beginner option trading account, but I could probably justify a one time deposit of 5k if questioned.

Yeah could probably do it with bitcoin. Do you think they might ask how I got the bitcoin in the first place though?

if you do a withdrawal/deposit of more than 10k it auto gets logged as a suspect transaction. deposits are going to get watched a bit more because of austrac, but if you consistently deposit around the same amount it might be not get flagged. if you can id deposit a bulk amount into a term deposit or something and keep adding to that so theres a specific thing that banks can see funds going into and not have as much to question

They might if u make big profits, which I wouldn't if I was you, you said you needed 5k right?
Buy bitcoin with cash, sell, record the sell claim it in your taxes as disposal of goods and they won't ask u shit for 5k.
Anything below 10k is tax exempt so they won't care.
Now, i wouldn't do this to launder money because if you claim 20k profits from bitcoin even if it's during a 5 year period or whatever they will want to know when u bought it.
Honestly money laundering requires an amount of effort you don't want to put in, just live with cash, it's easy in straya, plenty of tradies do it and they have to spend heaps more money than u will have to.

are you that lad that was on triple j's relationships and sex show or whatever its called when they did that thing about sex workers?

Do u have bf user?

Are you a faggot?

I'm probably gonna just outright deposit the 5k desu. Not so sure about the whole laundering thing. I feel like doing something like that would probably incriminate me more if they found out, and idk what the fuck I'm doing so they'd probably find out.
Nope
Nope
Nope

If you just want a debit card, buy bitcoin for cash and send it to TenX.

If you dont want to pay taxes you'll have to create multiple companies, with the last (controlling the others) in a tax free country.

This kind of system is very costly, will eat a lot of time and requires extensive knowledge of your country's regulations regarding tax imposition and company law.

If you earn 5k/month just pay do as the phonecase user said and pay your taxes. Once you got the bank account with "real income" laundered out, look out for tax exemption schemes for common middle class people, that will save you some $$ (but dont be deluded you'll never 100% avoid taxation)

Maybe
Ehhhh idk if I wanna sell shit man. Surely there's an easier way.

It's not about selling 5k worth of phonecase a month user, it's about pretending to do so and pouring your fuckmoney in instead.

Same shit with empty restaurants or old chinese shop noone ever walks in, they're laundering schemes.

yeah I get that, but surely Id have to do some work right?

Why don't you just put the money in incrementally and say you won it gambling

I'n not an expert of laundering but i guess you could easily pretend to own and run an "online shop" without much trouble

pretty sure you can just put money in pokies have a few spins and print out the ticket, keep that as evidence for your bank deposits just in case. or same thing with chips at the casino, go have a few drinks then cash them back in and get a receipt

How did you get into that line of work, op?

Isn't that the oldest trick in the book? Anyway, the more I think about it the more I'm thinking I'll just deposit a small amount a month for trivial shit and they'll probably just overlook it.
I like that idea, though my money is in cash so Id have to work around that somehow.
I was thinking about doing it for ages, but I very rarely follow through on my plans. This time however, I was on grindr and an old guy offered me $100 to suck me off, and then he started coming every week and we did more stuff than just that. Once I was used to it with him I started advertising online.

how does this help? anons aim is to avoid tax from what i can tell... sex workers are legal in aus

Not in SA where I live.

>give some money to friends/family
>have them wire you money via bank/paypal as a "gift"
>everybody is happy

>what is Al Capone
you know he got caught for not paying taxes. good luck aussie

Actually, this is a very good idea user. Thank you.

It only works for small amounts tho, over 10k a year is difficult.

Here in the EU there's law to protect people giving each other money for no reason within a family, so family-ring money laundering schemes are pretty common.

Pretty sure you can buy it at the newsagents for cash. Just saying.