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Families urged to report foreign incomes to Tax Office

Tax, family finances

New international data sharing agreements are allowing the Australian Taxation Office, ATO, to track money across borders and identify individuals not meeting their obligations. The ATO is asking taxpayers receiving foreign incomes to make sure they report it this tax time. They are concerned about Australians who are unsure how the system works.


Published

Updated

By Alice Trenoweth-Creswell

Source: SBS




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New international data sharing agreements are allowing the Australian Taxation Office, ATO, to track money across borders and identify individuals not meeting their obligations. The ATO is asking taxpayers receiving foreign incomes to make sure they report it this tax time. They are concerned about Australians who are unsure how the system works.



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