ATO Watching for foreign income

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ATO Watching for foreign income

The ATO is urging taxpayers receiving foreign income to make sure they report it this tax time.

New international data sharing agreements allows the ATO to track overseas income and identify individuals who are not meeting their obligations.

Thanks to the new Common Reporting Standard (CRS), the ATO has access to shared data on financial account information for foreign tax residents with over 65 foreign tax jurisdictions around the globe.

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