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‘They’ve sharpened the pencil’: ATO audits claim $15b

The Australian Taxation Office has raised more than $15 billion as a result of tax audits.

Detailed tax audits by individuals and companies, and other compliance activities, raised $15.3 billion in additional revenue in 2018-19.

As a result, there were more than 530,500 adjustments to tax returns, up from 360,000 a year earlier.

Head of External Affairs at CPA Australia Paul Drum tells Ross Greenwood the ATO is taking a tougher stance.

“They’ve sharpened the pencil and they’re much more efficient at collecting revenue across the board.”

Click PLAY below to hear the full interview

Image: Getty/George Mdivanian/EyeEm

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