16 Oct 088 Commissioner of Taxation's Annual Report 2007-08The Commissioner has published his Annual Report for 2007-08. The report identifies the following "highlights":
- " Net cash collections increased to $270.9 billion, which was $20.9 billion (8.3%) more than last year, and $9.8 billion (3.8%) above Budget forecast.
- We provided $9.3 billion in transfers and payments (not including GST input tax credits and income tax refunds), which was 0.4% less than last year.
- We successfully implemented 42 new legislative measures, including the tax cuts.
- We collected about $42.4 billion in GST for state and territory governments and fully met our commitments to them under the GST performance agreement.
- We met nearly all of our compliance commitments and Taxpayers’ Charter standards.
- Some 80% of individuals and 89% of businesses agree that the ATO is doing a good job, and 81% of tax agents feel that our systems and processes are being improved to make it easy for them to deal with Australia’s tax system.
- The 10th anniversary of e-tax saw more than 1.9 million self preparers lodge their 2007 return electronically, exceeding paper returns for the second year running. We expanded the pre-filling components of e-tax and of the Tax Agent Portal."
For a copy of the Annual Report, go here or here.