While Australians are not known for their superior intellect, we will soon find out just how stupid some Australians tax evaders can be.
In the latest Government Gazette (GN 14 - http://www.ag.gov.au/portal/govgazonline.nsf/publications?OpenView), the ATO (Australian Taxation Office) will be requesting data on persons with overseas accounts from virtually every bank, credit card company and clearing house operating in Australia.
If you had something to hide and were dumb enough to go to your local bank to open up an overseas account then you will be caught. Remember the Golden Rule: when you go offshore, do it with somebody that doesn't operate in your home country and never mingle transactions between onshore and offshore providers.
Also in the same Gazette, the ATO will be gathering data on anyone who purchased a car worth more than A$10,000. Considering a "pedestrian" car like a Honda Civic costs like A$20K, that database will be on virtually every Aussie car owner. If your reported income seems disproportionate to the value of your Mercedes or Ferrari then expect to be investigated. You may want to consider renting or "structuring" your next vehicle purchase. You are what you drive.
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