01 May 12 Taxation statistics 2009-10 now available
- For 2009-10, 12.4 million individuals lodged income tax returns, and a record 2.35 million individuals lodged using e-tax.
- Total income for individuals rose by 3.7% to $606 billion; whilst total deductions claimed fell to just under $30 billion, 6.1% less than 2008-09. Work-related expenses accounted for more than half of these deductions, with 66% of individuals claiming this form of deduction.
- Total company income was $2,212 billion, a decrease of 2.6% compared to 2008-09. Whilst total company expenses also declined, down 5.4% to $2,027 billion.
- The mining industry experienced the highest drop in income, down $50 billion (26%) to $140 billion. However, their total expenses also reduced, down $38 billion to $107 billion.
- Lodgment of self managed super fund (SMSF) returns continued to increase, up 5.0% to 373,195, whilst lodgments for all other fund types in total continues to fall, down 8.9% to 4,498.
- Total income for SMSFs decreased by 18% to $26.2 billion, whilst for all other funds increased by 3.5% to $85.9 billion.