Wealthy Australians and small-business operators claiming dodgy tax deductions have handed over nearly $8 billion in extra payments to the Australian Tax Office after being audited.
New ATO figures show almost 1.3 million so-called “client engagement activities” – including sometimes painful tax audits and actions to stop incorrect claims – added $7.7 billion to federal government coffers last financial year.
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Tom McIlroy was the Financial Review’s Canberra bureau chief.