ATO voluntary disclosure

Australian Taxation Office Voluntary Disclosure Initiative - Australian Taxpayers

The Australian Taxation Office ("ATO") is currently running an initiative to allow eligible taxpayers to come forward and voluntarily disclose unreported foreign income and assets. The ATO is encouraging Australian taxpayers with offshore assets to declare their interests ahead of increased international tax cooperation and transparency. Taxpayers who disclose under the initiative (which runs until 19 December 2014) will be treated more leniently.

For further information please see the ATO Project "DO IT" home page.