Toggle left hand content menu
  • Project DO IT: Disclose offshore income today

    Project DO IT (Disclose Offshore Income Today) was announced on 27 March 2014 to allow eligible taxpayers with previously unreported offshore financial activities to voluntarily disclose any income and assets. The deadline for coming forward under Project DO IT was 19 December 2014.

    Taxpayers with undisclosed offshore income or assets that did not come forward before the deadline are still strongly encouraged to come forward and discuss their situation with us.

    If you lodged an expression of interest by the deadline but are still to lodge your disclosure, the following pages provide information and scenarios that may help you finalise your disclosure.

    For information on the progress of an expression of interest or a disclosure, contact our Project DO IT team.

    Get it done

    End of get it done

    If you did not participate in Project DO IT, either because you did not qualify or you lodged an expression of interest after the deadline or for some other reason, you are still entitled to make a voluntary disclosure under our standard voluntary disclosure arrangements. There may be some opportunity to negotiate a specific agreement, depending on your circumstances.

    Find out more

    Make a voluntary disclosure

    End of find out more

    Who should participate in Project DO IT

    Taxpayers are eligible to make a disclosure under this initiative as long as they are not specifically excluded from doing so. Check whether you are in a situation similar to one of our scenarios.

    What assurances we give you

    We are providing a number of benefits to those who are accepted for Project DO IT. And you are only required to provide certain financial information under the initiative. However, the terms of Project DO IT, its benefits and its obligations operate as a single package and must be accepted as such.

    What you need to do

    To receive the benefits of Project DO IT, you must make a truthful disclosure on the disclosure statement. If you have lodged an acceptable expression of interest we are seeking to advise you within 28 days of receiving it whether we think you are eligible to participate. If you are, you will need to lodge your disclosure within the time we have allowed.

    What you need to know

    There are a number of things you may need to know before you can finalise your disclosure. This includes knowing whether you are eligible to lodge a disclosure under Project DO IT and the exclusions that apply. Our scenarios may help you complete your disclosure.

    • Last modified: 23 Dec 2014QC 41245