Newcastle Accountants Newcastle Accountants
  • Home
  • About Us
  • Why Us
    • Testimonials
  • Accounting Services
    • Business Accountants
    • Business Tax & Compliance
    • Starting a Business
    • Looking to grow your business
    • Self Managed Super Funds
    • Wealth Management
    • Tax Planning
    • Tax Returns
    • Tax Advisors
  • News
    • Articles
    • Newsletters
  • Contact Us
Newcastle Accountants
  • Home
  • About Us
  • Why Us
    • Testimonials
  • Accounting Services
    • Business Accountants
    • Business Tax & Compliance
    • Starting a Business
    • Looking to grow your business
    • Self Managed Super Funds
    • Wealth Management
    • Tax Planning
    • Tax Returns
    • Tax Advisors
  • News
    • Articles
    • Newsletters
  • Contact Us
Dec 01

Do You Have Undisclosed Offshore Income?

  • December 1, 2014
  • Offshore Income

ATO’s DO-IT amnesty comes to an end 19th December

Project DO-IT (Disclose Offshore Income Today) is an ATO initiative that is coming to an end on the 19th December 2014.

Offshore income

This initiative or amnesty is giving taxpayers an opportunity to voluntarily declare undisclosed or incorrectly reported offshore financial activities.
There are considerable benefits of making a voluntary disclosure, including reduced tax penalties, a limited period of review and a greatly reduced risk of facing criminal sanctions in relation to an offshore investment activity.

The ATO are currently working on a large scale international data matching activity, which includes jurisdictions previously considered as tax havens.
If you are concerned about any of your offshore activities its time to act now!

Recent Comments from Greg Williams Deputy Commissioner at ATO…

“I want the people who have undisclosed money offshore to realise they are on notice,’ says Greg Williams, ATO Deputy Commissioner. ‘If they think they can remain undetected, they should think again. We are just one step away from knocking on their door,’

‘To support the enforcement of Australia’s tax and super laws, the law gives us full access to the details of every single international funds transfer involving Australia. Further, our international tax treaty partners are sharing more information with us every day,’
‘Make no mistake; the ATO has a long reach. Just because something happens outside Australia’s borders doesn’t mean it’s beyond the watchful eye of the ATO,”

If you are uncertain of your exposure, or unsure of whether you have a potential issue; we encourage you to contact our office immediately to discuss your situation. T: 02 4926 2300

 

  • Facebook
  • Twitter
  • Reddit
  • Pinterest
  • Google+
  • LinkedIn
  • E-Mail

Comments are closed.

Archives

  • November 2017
  • September 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012

Categories

  • accountants
  • accounting
  • ATO
  • banking
  • budget
  • Business
  • Business Accountants
  • Business Advice
  • business insurance
  • Business Marketing
  • business strategies
  • cashflow
  • CGT
  • dividend
  • Employment
  • end of financial year
  • estate planning
  • FBT
  • Federal Budget
  • Financial Advisors
  • Financial Planning
  • GST
  • Health
  • insurance
  • International Market
  • Investment
  • Investment property tax deductions
  • Legal
  • Lifestyle
  • managed funds
  • Marketing
  • Medicare
  • money
  • Newcastle Business Accountants
  • Newcastle Tax Advice
  • News
  • Offshore Income
  • PAYG
  • Property Investment
  • small business
  • SMSF
  • Sports
  • Staff
  • Super
  • superannuation
  • Tax
  • Tax advice
  • Tax Deductions
  • Tax tips
  • Travel
  • Year-end
© 2023 Leenane Templeton Disclaimer and Privacy Statement. Website created by Harlan @ Leenane Templeton

Liability limited by a scheme approved under Professional Standards Legislation.