ATO warns of $100 billion debt.

9News

3 weeks ago

The Australian
Taxation
Office (ATO) is owed over $100 billion in unpaid tax, super, and other debt – the highest it has ever been, according to Commissioner Rob Heferen.

Heferen said the debt is equal to about one-sixth of all collections in the last financial year, including withheld pay-as-you-go tax and superannuation.

Rob Heferen says the ATO’s debt book is the highest it’s ever been. (Peter Rae/AFR)

“$100 billion debt is almost double the annual defense budget and triple the government’s new housing investments, impacting all Australians,” said Heferen.

After taking a lenient approach during the pandemic, ATO is now stricter towards tax collection, aiming to deal with unpaid debts more effectively,

The tax office is owed more than $100 billion – roughly the amount the federal government spends each year on health. (AFR/ Luis Enrique Ascui)

People walking out of the ATO Office. — The tax office is owed more than $100 billion – roughly the amount the federal government spends each year on health. (AFR/ Luis Enrique Ascui)

Heferen emphasizes the importance of collecting unpaid debts to ensure a fair tax system and support businesses paying their fair share.

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