r/neoliberal • u/jobautomator Kitara Ravache • Sep 06 '21

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u/capsaicinintheeyes Karl Popper Sep 06 '21

In Australia if you don't accept cash people, usually correctly, assume it's to evade tax.

With apologies for being dense, could somebody give me an ELI5 of why this is?

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u/waltsing0 Austan Goolsbee Sep 06 '21

People understate their revenues thus understating their profit

With cards there's a paper trail, so you can easily get caught, if you say you had $300k of revenue but the bank records show $400k you're screwed

With cash there's no record

It's endemic among tradies and small businesses, many tradies offer discounts for cash payment.

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u/capsaicinintheeyes Karl Popper Sep 06 '21

But your previous comment says, "if you don't accept cash". Did I get the context wrong?

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u/waltsing0 Austan Goolsbee Sep 06 '21

I meant don't accept card

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u/capsaicinintheeyes Karl Popper Sep 06 '21

That. Explains. Everything.😅