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cwm67
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I am unaware of any new rules or changes to the curren legislation . However , the ATO is currently conducting an education campign and suuralliance operation of off shore funds held by Australians.

I suspect he is referring to the numerous adverts and warings they are issueing

AT the end of the day if your Australian resident for tax purposes your required to indicate in your tax return ( at the relevent question) the existence of any foreign Trusts holding more than 50K, The ATO usally considers failure to do so ” a false and misleading statement”