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View Full Version : ATO continues to focus on returning expatriates



Newshound
07-08-2013, 12:59 PM
The ATO is currently targeting expatriates returning to Australia, sometimes after an extended time living and working overseas.

For expatriates living and working in countries with similar effective tax rates to Australia, the tax shortfall (if any) may not be significant, as taxpayers are generally entitled to foreign tax credits for tax paid overseas. However, for expatriates living and working in countries with low effective tax rates, the shortfall is often substantial.

The ATO is targeting expatriates from countries with low effective tax rates, often by tracking funds transferred from overseas into Australian bank accounts.

Read more ... (http://cgw.com.au/legal-alerts/july-2013/ato-continues-to-focus-on-returning-expatriates)