The Tax Office has fallen short of budget revenue targets by $4.2 billion, its 2017 annual report shows.
The 20,435-strong organisation also reported it continued to cut deals with the top end of down, rather than heading to court.
Over the past financial year the ATO initially issued 36 large companies with tax bills amounting to $2.8 billion, but after wheeling and dealing it collected only half that amount – $1.4 billion.
Net tax collections in 201617 were $359.3 billion, up $16.7 billion (4.9 per cent) over the previous year, but $4.2 billion (1.2 per cent) below the amount expected at the time of the budget 201617. The shortfall was under the amount recorded a …
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