Selling PPOR, Buyer wants to declare lower value.

Offer accepted, contracts exchanged. All above board. Happy days!

Thanks for everyone's input.

 

Excellent good work!

 

Congrats @dbmil . So all legit now with proper prices? Hooray

 

it does work, you just gotta do it smartly,

also depends on cashing out via cash or cheque, cheque is id say near impossible as you need to show proof that you won or at least gambled the original amount (former casino employee here).

if you are a first timer and simply walk up, change chips and ask for a cheque, not a chance,

give it to someone who gambles a lot and it will be far easier

You can open accounts at the casino too and put cash into it, although im sure they surveillance it extensively

 

I don't gamble so don't know for sure, but there is no way a legitimate casino is going to allow money laundering to take place that easily. I am sure it does happen though.

 

@Terry_w casinos doesn't advocate laundering but there are just too many gamblers. it's next to impossible if someone comes in and changes 20-60K in cash to chips (they're not going to say no)

 

But that is over $10k and there are reporting requirements. Are you saying anyone can change chips without ID, even for amounts over $10k?

 

Who hasn't done this before when selling a car or motorbike? Help a brother out

And casinos are full of suspect characters and it does happen, drop in at your local bikie club house or local drug dealer and find out how they clean their money. Uni students and the like are employed to play machines for a wage and bring back the clean winnings

I thought we were about making money here! (grey area with legalities )

 

Hasn't happenned to me when i last went there couple months ago and my friend just change 20K last week but for winnings (yes). Maybe there is - but seems not really enforced.

 

It won't work for this amount. My gf has worked at Adelaide casino for 8 years in cashier she's see people try this all the time. Any amount over 10k you are entered into austrac. Also if they think you are acting suspicious you are recorded.

Also with the amount of surveillance makes it very hard also. It's not the 60's

 

Yea they won't say no but you will be entered into austrac and l then what do you do with chips? Come back each week and cash out? It will be noticeable

 

yeah but there are people changing chips every day. "i'm not talking about myself" but if they're not taking your drivers license, how are they going to be put into austrac.

 

They do take your drivers licence when they put your details in. Also the look for people who "low play" as in cash walk around and not bet. Will also get you entered into it.

If you can get away with it good job