Project DO IT - Offshore Voluntary Disclosures seminar
28 July 2014
City West Receptions
45 Plaistowe Mews
On 27 March 2014, the Commissioner of Taxation announced an initiative to allow eligible taxpayers to come forward and voluntarily disclose unreported foreign income and assets. The Australian Tax Office is urging taxpayers with offshore assets to declare their interests ahead of a global crackdown on people using international tax havens.
In this session, Barry Holland, CTA, a Senior Director at the ATO and Tony Underhill, CTA, a Tax Principal at Grant Thornton will guide delegates through the following:
- Background to the ATO’s initiative – ATO practice prior to the Commissioner’s Statement, what the ATO is trying to achieve.
- Taxpayers perspective: - common scenario’s, common concerns, types of matters being disclosed.
- The disclosure process: - from both the ATO and advisor’s viewpoint.
- Bringing funds back onshore – structural and practical issues for unravelling offshore arrangements.
- What happens if a taxpayer doesn’t take advantage of this amnesty
This session is recommended for lawyers, accountants and executors or potential executors of clients estates to understand how Project Do It can assist taxpayers including those with legacy issues.
The Tax Institute
08 9322 2004
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