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13 Dec 2018 Large corporate groups income tax gap

The large corporate groups income tax gap is the difference between the total amount of income tax collected and the amount we estimate would have been collected if every one of these taxpayers was fully compliant. 

A large corporate group is defined as a corporate group with gross income of over $250 million in a given income year. 

In 2015-16, large corporate groups reported $1.7 trillion in gross income and paid approximately $40 billion in tax. 

The ATO’s estimate of the net gap for large corporate groups covers a seven-year period from 2009-10 to 2015-16. For 2015-16, the net income tax gap is estimated to be $1.8 billion or 4.4% of tax payable for this group. The gap primarily reflects differences in the interpretation of complex areas of tax law. 

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