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 OZschwitz ATO's bullshit amnesty for offshore cash

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RR Phantom

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OZschwitz ATO's bullshit amnesty for offshore cash Vide
PostSubject: OZschwitz ATO's bullshit amnesty for offshore cash   OZschwitz ATO's bullshit amnesty for offshore cash Icon_minitimeThu Mar 27, 2014 6:04 pm
The Tax Office is allowing Australians with money parked in offshore accounts to avoid harsh penalties by coming forward, in an amnesty program worth up to half a billion dollars.

OZschwitz ATO's bullshit amnesty for offshore cash So_cash_wide-620x349

ATO Commissioner Chris Jordan will announce the program today, which will reduce the penalties for taxpayers who hand over information about their hidden accounts over the past four years.

The program is being drummed up as the 'last chance' for tax evaders to make peace with the Tax Office, before greater information sharing powers with overseas jurisdictions come into effect.

''We're getting into a world where there may be a lot more automatic exchange of information,'' ATO Deputy Commissioner Michael Cranston said.

Read more: http://www.smh.com.au/business/last-chance-ato-amnesty-for-offshore-cash-20140327-35jv4.html#ixzz2xCf9TCXS
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