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Families urged to report foreign incomes to Tax Office

The exterior of the Australian Government Taxation Office in Sydney

The exterior of the Australian Government Taxation Office in Sydney Source: AAP

New international data sharing agreements are allowing the Australian Taxation Office to track money across borders and identify individuals not meeting their obligations. The A-T-O 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

Presented by Zoran Subic

Source: SBS



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New international data sharing agreements are allowing the Australian Taxation Office to track money across borders and identify individuals not meeting their obligations. The A-T-O 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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