Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

find:
Hot Issues
Global outlook summary: Down but not out
Bookkeepers remind on incoming TPRS obligations
Golden Rules for Deductions
How's Australia going - vital statistics?
Tax, SMEs set to be ‘political football’ in 2019 as election nears
Cap lifted on popular financing option for clients
Expiry of 900,000 interest-only loans set for January
Australian Taxation Office (ATO) Scam Alert: Fake Demands for Tax Payments
Tax Office sounds alarm on popular property strategy
Our Advent calendar for 2018
‘Please do not panic’: ATO boss addresses STP concerns
Stop!! Don't do a paper Budget, use our online budgeting tools instead.
Employee Christmas Parties and Gifts – Any FBT?
Behavioural Coaching and your financial plans
FBT – Christmas Parties and Taxi Fares
Information needed to be the BBQ expert.
Tax consequences of trust vesting
Fringe Benefits Tax (FBT): employees’ private use of vehicles
ATO to contact clients over bank details
ATO claws back $850m in unpaid SG in FY 17-18
Appetite for property in SMSFs shows signs of life despite tough market
Superannuation gender gap narrowing, research shows
Identification numbers for directors
How financial advice helps create wealth.
Australia's vital statistics
Unlocking equity crowdfunding in Australia
$20m boost for SME clients looking to exporting
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Articles
Amnesty – Overseas Undeclared Income
Crackdown on Phoenix Activity
Guarantee Costs Occasionally Deductible
Australian Taxation Office (ATO) Bungled Attack on Foreigners
Gifts Provided to Employees at a Christmas Party – any FBT?
Reminder Tax Break Deadlines
Recognition of same-sex Couples in Super
Attitude of Banks to Insolvency
Tax File Numbers (TFN) and Super Funds
Amnesty – Overseas Undeclared Income
If taxpayers have unreported income from offshore activities, now is the time to report it.

The Offshore Voluntary Disclosure Initiative (OVDI) is available to all taxpayers until 30 June 2010.

 

Taxpayers may have unreported offshore income if they:-

 

·         change their country of residence, or

·         are unsure how to deal with investments in offshore funds or bank accounts

·         thought that salary earned and taxed overseas (after 1 July 2009) was tax free

 

Persons with omitted foreign income may want to tell the Tax Office, but are concerned about the consequences of doing so, particularly the potential for criminal investigation.  This offer provides the following benefits:-

 

·         approach can be anonymously

·         the Australian Taxation Office will indicate whether it would investigate the arrangements for any potential criminal law breaches

·         reduced shortfall penalties (zero if less than $20,000 income)

concessions for the general interest charge

22nd-December-2009