Taxation Office identity theft warning

The commissioner of taxation has advised that tax file numbers (or TFNs) must be kept safe to reduce the possibility of identity theft.
Taxpayers should only supply their TFN to certain people, including the Tax Office, Centrelink, their super fund, bank or financial institution, and their employer.
The tax office has warned that if anyone asks a [...]

Declaration of offshore income

The commissioner of taxation has announced that the benefits previously enjoyed by taxpayers from offshore tax havens have been greatly diminished due to their ongoing audit program. A new offer is now available to taxpayers who have not declared all income derived from offshore activities.
“This is a chance for people with undeclared income, for example [...]

Please Note: Many of the comments in this blog are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and theinformation's applicability to their particular circumstances.