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orange wrote (edited )

Hello! In my own experience [Canada] I've only been scrutinized by the bank itself. I do my taxes and what-not as self-employed and everything has been fine from that end, no audits or anything worrying.

A while back, I was stupid and deposited 2 months worth of income at one time into my bank account and was pulled aside into a separate room to be questioned by bank management. I got out of it with half-truths but I've heard from friends before that they had the cops called then and there to check things out.

I would recommend depositing main living expenses in 2 week intervals (the cost of rent, bills, some savings), like a regular job would pay, and using your bank account to pay those things. Leave the rest of your cash on your person for other expenses (food, shopping, personal things, savings).

Ideally, the amount you deposit into your bank account for living expenses, and the amount you report for taxes, should be similar if not the same.


orange wrote

DM if you would like to know the red flag amounts greentea!