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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.


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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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