Gathering offshore information

Overview

As more Australian taxpayers conduct international dealings and hold investments overseas, we have increased our focus on international tax issues.

When gathering information from overseas during compliance activities, we generally use a cooperative approach first. We may also collect information and documents located offshore by:

• using our domestic information-gathering powers to obtain information about offshore dealings by accessing information held by entities in Australia
• issuing an offshore information notice
• an exchange of information with other jurisdictions under various arrangements.

The requirement to substantiate your returns and statements rests with you. If your records are kept offshore you are still required to provide them to us. You cannot refuse to provide records we require under a notice simply because your returns or advice were prepared outside Australia.