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Recent Banks Group News

Voluntary Disclosure of Unreported Offshore Income

August 14, 2014

In March 2014, the ATO announced a voluntary disclosure initiative called “Project DO IT”. Project DO IT allows taxpayers to make voluntary disclosures relating to unreported foreign sourced income they have not previously declared in their Australian income tax return.  …

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Banks Group Corporate Brochure

August 8, 2014

Please see below the link provided to view our new corporate e-brochure. Click the link: Corporate Brochure to view in full.

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Are you a share trader?

There has always been confusion in determining whether an entity is a share trader or investor. There are two possible ways in which a taxpayer may derive income / losses from share transactions: Business Income:  The entity is a share …

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Liability limited by a scheme approved under Professional Standards Legislation

Banks Group is an association of independent firms that operate in both Melbourne and Sydney under the same trading name. Neither the Melbourne Banks Group firm or the Sydney Banks Group firm are partners or agents of each other and shall not be liable for any act or omission of each other.