Sorry, but you don't need a tax file number to open a bank account.

I had my first bank account at age 9 and still use it....not many 9 year old's (outside of china) are working at that age.

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open up another bank account with a different bank.

Option 1: Install big safe. Enjoy nice meals at restaraunts. Always go gold class at movies. Drive a very thisty car enthusiasticaly etc...

Option 2: Keep the income legal and don't loose any sleep. Earning that much cash is likely to get him in the crap eventually when he screws up and does something silly.

ATO frowns on tax avaoidance. So do those of us who pay a crap load of tax!!!

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So its building up who cares, Turn the Account into one that pays interest,
Thats what i have done, My account pays internest every 3 months.
with money just sitting in there, so if it builds up, Well thats called Not having to work by the time your 30~40 lol. or buy a house,

No one is going to care if your bank account is going up. live off the other cash, Deposit few grand here and there and thats it.

No-one will notice. I'd have the money in an off-set account.

go to the mint buy gold and bury it in your backyard, then move out and forget about it

Bank shares account info with ATO....ATO compares account info with TFN details.

Absolutely!!!!

If this bloke is as smart a business man as he is made out to be then he can declare the income and claim most of it back at the end of FY.

If you were a gambler who made constant and consistent wins the ATO may consider that to be assessable income.

Just bank the money, worst case scenario (and very, very unlikely) it will be treated as income, no one is going to think you are a drug dealer for depositing $500 pw

Get a Offshore bank account in the Caymans,
jeeze doesn't he watch any movies

Reminds of when i was working in the UK as a contractor and I had this Contractor management company based in the Isle of Man who would manage my pay, taking off a small fee and allowing me to live and work in London tax free for 2 years! Very dodgy and I'm sure this loophole would have been closed up by now.