The Australian Labor Government has released details of its plans to put a price on carbon. From 1 July 2012, the scheme proposes to set a price of $23 for each tonne of carbon pollution released into the atmosphere by Australia's biggest polluters.
TIEAs is signalling a new era of international co-operation and highlighting offshore avoidance arrangements. Australia has signed 27 tax information exchange agreements to date with more being negotiated.
By the end of this financial year, the number of ATO auditors working on cash economy cases will have almost doubled and more than 200,000 businesses would have been audited or reviewed. The main issue that is uncovered during these audits continues to be inadequate record keeping practices.