Commissioner of Taxation Chris Jordan says the model by which resource companies repeatedly flouted rules to avoid paying tax has effectively been broken, delivering an extra $12 billion to the budget bottom line since 2017.

In an interview with The Australian Financial Review following last week’s $1 billion settlement between the Australian Taxation Office and Rio Tinto, Mr Jordan compared tax avoiders with Olympic drug cheats, saying it was better to stamp out their behaviour rather than repeatedly ”cracking down” on transgressors.