"Legal" for employee to do freelance and credit payment to parent's account?

[dafeizhu]

Hi,

Im working in an organization that doesn't allow freelancing. I just want to know if there's any implications if the cheque is issued to my parent's bank account?
Thanks in advance.

Originally Posted by dafeizhu

Hi,

Im working in an organization that doesn't allow freelancing. I just want to know if there's any implications if the cheque is issued to my parent's bank account?
Thanks in advance.

It doesn't matter whose account you bank it into, it is still money that you earned while freelancing so you need to declare this to your current employer in case there is any conflict of interest.

Originally Posted by dafeizhu

Hi,

Im working in an organization that doesn't allow freelancing. I just want to know if there's any implications if the cheque is issued to my parent's bank account?
Thanks in advance.

You know that it's not permissible, so just do what you want but don't get caught. Duh!

[dafeizhu]

I was thinking more in the perspective that will it get my parents into any trouble from IRAS because they did not render any services.

I will help them declare the taxes, but not sure if IRAS will go to that extent of finding out why they are getting paid. Maybe business owners here can give me some advice. =)

it goes both ways. assuming you have a registered entity with ACRA to do business legally. When IRAS audit your customer, they will trace the funds and to your company name. Then they do audit on your company cash flows which you declared annually. if u did pay the taxes on your company as declared or contribute to CPF, that's fine. Otherwise gg.