Australia, United Kingdom, Canada and United States

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      What chance is there of my getting caught if I report my
Australian Income in Australia and my Canadian Income in Canada
      -=======================
      david ingram replies:
      Not a heck of  a lot if no one squealed.  I have "fixed"
two returns this last week where the taxpayer was reporting US
income in the States and Canadian Income in Canada and claiming
full exemptions in both countries.
      Unfortunately, with CANADA and the US sharing information
when they spot a Canadian with a US address or an American with a
Canadian address, more and more people are being caught.
      There is a really good chance of being caught between the
US and Canada.
      With this new task force, the Australia, UK, US and Canada
Square will be just as hard.  Can New Zealand be far behind?
      Read on
      ======================================
      Statement of Joint Cooperation Regarding Abusive Tax
Transactions
            IR-2004-35, March 15, 2004
            The commissioners of the tax administrations of
Australia, Canada, the United Kingdom and the United States have
begun discussions to form a joint task force to increase
collaboration and coordinate information about abusive tax
transactions.
            The tax commissioners share a number of common
challenges with respect to abusive tax transactions. While the
tax administrations operate primarily within their own borders,
many abusive tax transactions employ strategies that cross
borders, and many of the promoters of these transactions operate
globally without regard to national boundaries. Setting up a
joint task force would enable the four countries to:
              a.. Share expertise, best practices and experiences
in the field of tax administration to identify and better
understand abusive tax transactions and emerging schemes, as well
as those who promote them.
              b.. Exchange information about specific abusive
transactions and their promoters and investors within the
framework of the countries’ existing bilateral tax treaties.
              c.. Carry out their individual abusive tax
transaction enforcement activities more effectively and
efficiently.
            “This is an unprecedented step in the battle against
the plague of abusive tax transactions,” said IRS Commissioner
Mark W. Everson.
            The commissioners of the four tax administrations
agreed to meet in Washington in the next month to finalize a plan
to launch this initiative.
======================================
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transactions
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