New tax audit to scrutinise overseas transactions
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The Australian Tax Office (ATO) will target wealthy individuals and investors under a tax audit that aims to collect about $5.7 billion over the next four years.
ATO second commissioner of compliance, Jennie Granger, says there will be more scrutiny of overseas transactions which can now be detected with new data-matching technologies
Ms Granger says while most people try to pay their taxes, many are confused about how to correctly lodge tax returns.
"Most Australians are very good at complying with both their tax and super obligations," she said.
"We administer both those laws but there are always areas where people are confused by complexity or are tempted by opportunity."
