Original article by Rachel Baxendale
The Australian – Page: 2 : 12-Jul-18

The Australian Taxation Office will seek to recover more than $A1bn worth of tax liabilities over the next four years, according to second commissioner Neil Olesen. Analysis shows that the Federal Government lost $8.7bn in tax revenue in 2014-15 as a result of individuals failing to comply with their tax obligations. In contrast, it is estimated that forgone tax revenue from companies was just $2.5bn.

CORPORATES
AUSTRALIAN TAXATION OFFICE, THE TAX INSTITUTE, CHARTERED ACCOUNTANTS AUSTRALIA AND NEW ZEALAND