01 Nov 2018 Commissioner of Taxation annual report 2017-18 released
The Commissioner of Taxation annual report informs parliament, stakeholders and the community about how the ATO has administered the tax and superannuation systems.
- Collection of gross tax of almost $500 billion and refunds of just over $102 billion. Net tax collections were almost $397 billion, up $37.4 billion (10.4%) over the previous year, with the biggest driver being growth in company collections, up $16 billion on 2016-17.
- Expansion of the ATO’s work-related expenses program – to interact with over one million taxpayers in relation to their claims. Real-time analytics were used to send ‘nudge’ messages to approximately 230,000 taxpayers (or nearly 7% of myTax users) while they were preparing their return in myTax, asking them to review specific items. As a result, lodgers made adjustments estimated to have saved almost $24 million in revenue.
- Increased take up of myTax, up 9% on 2017, with over 3.5 million lodgments received from self-preparers representing 20% of the 17.4 million electronic lodgments received.
- Faster refunds than previous years with 73% of total refunds issued within 5 days of lodgment and 95% within 12 days.
The annual report, as well as more highlights, can be found here.