So I have been doing this Kindy gig for about 6 months, which goes without say that it’s illegal cash in hand work and untaxed. Now since I have started this job every payday I have my $$$ into the bank.
Now if this was back home I wouldn’t think about putting my money from a cash in hand job in the bank in case the tax man and government decide to snoop around. However I have been slowly thinking that perhaps this is bit of a dumb idea doing this in Taiwan, but I’m also thinking it must be pretty common for teachers to be paid cash in hand, what do they do with there money leave sitting around, I don’t want to leave my pay packet sitting around my house. Is it stupid of me to put my “illegally” earnt $$$ in the bank, or shouldn’t i be too concern about it?
[quote=“forefit”]So I have been doing this Kindy gig for about 6 months, which goes without say that it’s illegal cash in hand work and untaxed. Now since I have started this job every payday I have my $$$ into the bank.
Now if this was back home I wouldn’t think about putting my money from a cash in hand job in the bank in case the tax man and government decide to snoop around. However I have been slowly thinking that perhaps this is bit of a dumb idea doing this in Taiwan, but I’m also thinking it must be pretty common for teachers to be paid cash in hand, what do they do with there money leave sitting around, I don’t want to leave my pay packet sitting around my house. Is it stupid of me to put my “illegally” earnt $$$ in the bank, or shouldn’t i be too concern about it?[/quote]
Do NOT hit that “Submit” button, jimi! Take a step back, dude.
I am a wealthy industrialist in Nigeria. My country is falling apart. So, I have to transfer my considerable wealth (3000000000 USD) to a foreign account. In exhange for “putting it in [your] bank,” I will let you keep 10%. Won’t you help me, kind sir?
It might be a good idea to open a secondary bank account just for those type of funds. You may end up in a situation where you need to copy pages of your regular passbook to prove payments.
For example, to prove that you have actually paid all of the rent that you are using as a deduction, the tax office is going to want, among other things, proof of payment to your landlord. If you don’t have the record, you lose the deduction. i.e. several thousand NT. If you are transferring from your account to your landlords, you certainly don’t want to be in a position of giving the tax office all your financial records. Also, a little walkin’ 'round money is nice to have.
Why not transfer some of the extra home every now and then. There will still be a record but it will be difficult to track down all the different sources. And I personally prefer to have my money in my home country.
I will happily give you one percent per annum interest 