The Australian Tax Office has made no secret of its focus on Australian taxpayers with undisclosed foreign income and assets, but while it might have been willing to proceed with amnesty in the past, that is no longer the case. In this month's update, we look at what it means and why you should ensure any cross-border issues are dealt with by a specialist advisor.
The ATO is also focused on small business tax compliance, rental property expenses, and home-based businesses – read on to find out more about what it is zeroing in on.
As always, if you have any queries, contact our team on 9957 4033.
This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.