Australia & Ireland are to start sharing …

Australia & Ireland are to start sharing information in relation to non-resident bank accounts. In simple terms this means that Ireland will be providing Australia with details of balances & lodgements to some Irish bank accounts held by Australian residents. Disclosures should be made asap to avoid penalties where income has not been delared properly https://www.ato.gov.au/Business/Large-business/In-detail/Business-bulletins/Articles/The-Common-Reporting-Standard-(CRS)-to-be-implemented-from-2017/