Alan Collett Posted July 22, 2013 Share Posted July 22, 2013 http://www.treasurer.gov.au/DisplayDocs.aspx?doc=pressreleases/2013/009.htm&pageID=003&min=cebb&Year=&DocType=0 "Today, Australia and Britain have agreed a shared agenda to combat tax avoidance and evasion. Britain has made this a priority for its G8 presidency this year; Australia will make it a priority for its G20 presidency next year. This will ensure momentum is maintained in global leadership. Australia will join the pilot scheme for the multilateral exchange of tax information established by Britain along with France, Germany, Italy and Spain in April 2013. This pilot will allow for automatic information exchange between participating countries, helping Australian and other tax authorities to fight international tax evasion and ensure that all taxpayers pay their fair share." Best regards. Link to comment Share on other sites More sharing options...
millars Posted July 22, 2013 Share Posted July 22, 2013 I can understand where this is coming from as a lot of people are confused about how & what tax returns to fill out & tax to pay. I wonder if you can answer a question. We are permanent residents in Aus. I have a Bank account in the Uk which pays a small amount of interest. Tax is already deducted as it was just too hard to get Lloyds Bank to change it. Should I be declaring this on my Australian tax return? The interest stays in the UK, I do not bring it over here. Also, is the UK tax free allowance applicable to this. Some people have told me theres nothing to pay if under the allowance and others say because I am no longer resident in the UK, the tax free allowance no longer applies? Would be so grateful for a reply, thanks Link to comment Share on other sites More sharing options...
Sustain Posted July 22, 2013 Share Posted July 22, 2013 Tax avoidance is legal Tax evasion is not legal Link to comment Share on other sites More sharing options...
thombatt Posted July 22, 2013 Share Posted July 22, 2013 I love the phrase "their fair share". Actually means "what we say you should pay", it has nothing to do with fair share. Link to comment Share on other sites More sharing options...
Alan Collett Posted July 23, 2013 Author Share Posted July 23, 2013 Yes, what is fair to some is unfair to others. I'd prefer to see more use of the word lawful - the morality of paying a "fair share" seems to suggest we should volunteer to pay tax, which clearly isn't the case. If Governments don't like the lawful avoidance of tax they should change the law. IMHO. Best regards. Link to comment Share on other sites More sharing options...
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