ATO tax avoidance measures net $7.7 billion

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By Leith van Onselen

The Australian Taxation Office’s (ATO) has collected an extra $7.7 billion in unpaid tax liabilities since July 2016 over the past two years through its tax avoidance taskforce. In particular, 44 multinationals have changed their business models in order to meet their Australian tax liabilities, whereas $4.7bn worth of unpaid tax liabilities have been clawed back from wealthy individuals and associated entities. From The AFR:

ATO deputy Jeremy Hirschhorn said already about $7 billion in tax had been collected as a result of the taskforce’s work…

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.