If you have funds in a low tax jurisdiction (tax haven) and you have not declared those funds, or the income earned those funds, the ATO may become aware of it because of  the Australian governments increasingly effective information sharing activities with other countries, including tax havens. If the ATO are alerted to your undeclared offshore funds, they will not offer much by way of leniency. However, we can voluntarily disclose your situation and significantly reduce the imposition of tax, penalties and interest. We can also arrange for the funds to be repatriated to Australia without further penalty. We have assisted many people successfully in this area with some going back more than 30 years. Often, it is because the accounts have been inherited and were left untouched by families for many years. With the right lawyer, there is always an opportunity to negotiate with the ATO to maintain the family wealth and move forward for the benefit of the family.