Ja: High fines deterrent to tax dodging

MASSIVE INCREASES to income tax and customs penalties have been approved in the House of Representatives as Government seeks to create more realistic deterrents to taxdodging and customs offences.

Among the increases to fines related to offences under the Income Tax Act is a $200 to $10,000 jump for failure to deliver a declaration of estimated income tax. Under the Customs Act, there is a $5,000 to $100,000 increase in penalties related to the failure of 'the master of any aircraft or ship' to file a proper report on the goods aboard.

The amendment Bills will now go to the Senate for approval.

This means that people will just become more creative in their tax dodging and customs avoidance.