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Sept 2019 Tax Round Up - Warning on undisclosed foreign income

by Knowledge Shop Editor, on 02/09/2019, 19:14

The ATO has warned they are actively looking for taxpayers who have not fully disclosed foreign income. We explore how and what they are looking for. 

The expansion of the taxable payments annual reporting system to businesses providing road freight, security, investigation or surveillance, or IT services commenced on 1 July 2019, we look at the businesses on the reporting fringe. And, two cases testing the boundaries of the personal services income tests.

Members, download the full September 2019 Tax Round Up from the member-only website. To see what Knowledge Shop membership offers, call the team on 1800 800 232 or take an online tour.


Join Michael Carruthers (Tax Director, Knowledge Shop) and Lisa Armstrong (MD, Knowledge Shop), for just the juicy bits of change for accountants and advisers:

  • Warning on undisclosed foreign income – The ATO has warned that they are actively looking for taxpayers who have not fully disclosed foreign income. We take you through what they are looking for and briefly recap the rules.
  • Expansion of the taxable payments annual reporting system - TPAR commenced on 1 July 2019 for businesses providing road freight, security, investigation or surveillance, or IT services. A new law companion ruling identifies who needs to report and clarifies the scope of the rules where taxpayers are on the fringes.
  • Testing the boundaries of what is a personal services business – We cover two personal services income cases: the Douglass case testing what the ‘to have regard to the custom or practice in the relevant industry’ condition means in the results test; and, the Fortunatow case testing the unrelated client tests where a recruitment agency or labour hire firm is used.

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Topics:Tax Round Up

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