In Budget 2024, IR received additional funding to carry out more compliance activities to collect more tax revenue and outstanding debt. We committed to achieve an overall return on investment of 4:1 over 2024–25, scaling up to 8:1 in future years. This amount includes funding to increase investigations and audits, do more unfiled returns and debt work and increase debt collection from overseas-based student loan borrowers. IR is continuing to scale up existing activities and planning to ensure the targets can be achieved alongside other compliance work.
Last updated:
05 Dec 2024