Just to clarify, this is a legal minefield,
as Australian residents we must disclose ALL income, even offshore income, but (and there are always buts) a company held at arms length registered off shore and therefore not a resident for Australian tax purposes is treated differently. To further complicate the issue, one offshore can be very different to another offshore.
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- anyone read the afr today - rivkin, richo etc
anyone read the afr today - rivkin, richo etc, page-13
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