|Special Pherrus Federal Budget 2018-19 Review|
The ATO Will Be Backed With A Solid Investment
A strong theme in the narrative accompanying the 37 Treasury revenue measures is the additional funding being allocated to the ATO and related organisations. The Government seems to be determined to properly resource the ATO and related organisations.
This is evident from a number of measures including :
- Personal income tax measures to ensure individuals meet their tax obligations ($130.8 million);
- Delivering on debt collections and improvement in timeliness of debt collections ($133.7 million);
- Enhancing ATO enforcement against the Black Economy ($318.5 million);
- R&D measure providing additional funding to the ATO and the Department of Industry, Innovation and Science (amount not specified);
- Assorted other measures relating to aspects of superannuation and payroll and superannuation fund reporting.
Overall, the measure seeking to ensure individuals meet their tax obligations alone is estimated to raise some $1.1 billion over the forward estimates.
If you would like to discuss any of the above budget projected changes, contact your Pherrus Team member today.