This continues my blog of 28 March titled: “Australian Tax Office Announces Terms of Foreshadowed Offshore Income Amnesty!“.
The recently announced Australian Taxation Office (ATO) offshore income amnesty is available to “All individuals, companies, corporate limited partnerships, partnerships and trusts (including superannuation funds and executors or administrators of deceased estates)” that are residents of Australia for taxation purposes. However, the amnesty is not available to individuals and entities-
1. Already being audited by the ATO
2. That have received a compulsory information gathering notice relating to offshore income Read more