The ATO on Wed 29.4.2015 released Taxation Statistics 2012-13 which present an overview of 2013 income tax returns for individuals, companies, superannuation funds, partnerships and trusts. The statistics also cover other aspects of the taxation system such as GST, FBT and excise, along with the superannuation system, in relation to the 2013-14 financial year.

Highlights from the statistics for the 2012-13 year include:

  • Individuals – 12.7m individuals lodged income tax returns. Tax agents submitted 9.4m of the tax returns, 2.8m were submitted using e-tax, and 547,100 returns were lodged by self-preparers (down from 912,205 in 2011-12). Individuals declared total income of $738.7bn in 2012-13 (compared with $703.9bn in 2011-12) and a cumulative net tax payable of id=”mce_marker”54.9bn.
  • Companies – 854,745 companies lodged returns (up from 817,885 in 2011-12). Total company expenses were $2,485.8bn (up from $2,344.4bn in 2011-12) and companies reported total income of $2,714.9bn (up from $2,573.1bn in 2011-12). Companies were liable for $64.5bn in net tax (up from $64.2bn in 2011-12).
  • CGT – net capital gains were reported by 505,750 individuals (up from 424,320 in 2011-12), 13,950 companies (up from 13,115 in 2011-12) and 56,470 funds (up from 52,130 in 2011-12) totalling $23.9bn in net capital gains.
  • GST – GST liabilities and Customs collections totalled $51.7bn for 2013-14 (up from $48.4bn in 2012-13).
  • Superannuation – 451,620 funds lodged returns (up from 428,055 in 2011-12). Total fund deductions were $22.2bn (down from $22.7bn in 2011-12).
  • Cost of tax compliance – the average time taken by an individual to complete an income tax return was 4.7 hours (up from 4.6 hours in 2011-12). Companies took on average 7.1 hours to complete an income tax return (down from 8 hours in 2011-12). For individuals, the average cost of managing tax affairs has increased to $379 in 2012-13 (from $371 in 2011-12).

[LTN 80, 29/4/15]