Project DO IT – ATO says act now!
With only weeks until the ATO’s offshore voluntary disclosure initiative – 'Project DO IT' – closes on 19 December 2014, the ATO is reminding those with undisclosed offshore income and assets that they should act now or risk audit action and significant penalties.
Editor: Note that the ATO has stated they are far more concerned with the taxpayers who don’t disclose, rather than those who do, and the aim of Project DO IT is to provide one last chance for taxpayers to disclose before the net closes completely on offshore tax evasion.