ATO gains access to Swiss bank accounts, wealthy individuals on notice

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ATO gains access to Swiss bank accounts, wealthy individuals on notice

Australians holding Swiss bank accounts are being monitored by the Tax Office for the first time, with transactions by certain high-wealth individuals a special focus, the ABC has been told.

Deputy tax commissioner Jeremy Hirschhorn said the ATO now has access to Swiss bank accounts, which will be tracked to ensure Australians pay their fair share of tax.

"If we go to the almost cliched Swiss bank account, we just received our first list of all Australians who hold Swiss bank accounts," Mr Hirschhorn told the …. read more click link below

https://www.abc.net.au/news/2018-12-14/ato-gains-access-to-swiss-bank-accounts/10620082