The ATO on Mon 30.4.2012, released Taxation Statistics 2009-10<http://info-anz.thomson.com/t/11608540/105811750/92915/0/> which features data compiled from tax returns from the 2009-10 income year and other financial information provided in activity statements and other FBT, GST, and excise forms for the 2010-11 financial year. Highlights from the statistics for the 2009-10 year included:
- Personal tax: 12.4m individuals lodged income tax returns, an increase of 88,000 from 2008-09. Tax agents submitted 71.0% (8.8m) of the tax returns and 19.0% (2.4m) were submitted using e-tax. Individuals had a cumulative taxable income of $577.5bn an increase of 4.2% over 2008-09 and a cumulative net tax payable of $120bn.
- Superannuation: 377,693 funds lodged returns, an increase of 4.8% from 2008-09. Total fund deductions were $35.5bn, a 19.3% decrease from 2008-09.
- CGT: net capital gains were reported by 541,898 individuals, 15,174 companies and 61,191 funds totalling $20.3bn, a 13.6% decrease from 2008-09. CGT payable on the net capital gains of taxable individuals, companies and funds was estimated to be $5.1bn, a 15.1% decrease from 2008-09.
- Cost of tax compliance: the average time taken to complete a business income tax return was 5.8 hours. The average cost of managing tax affairs claimed by an individual was $356.
Source: ATO media release No 2012/10, 30 April 2012<http://info-anz.thomson.com/t/11608540/105811750/92916/0/>
[LTN 80, 30/4]