2023/24 Federal Budget Highlights

2023/24 Federal Budget revealed that the Government will invest:

• $89.6 million into the ATO’s Personal Income Tax Compliance Program.
• $27 million to improve data-matching to identify cases of superannuation guarantee underpayment by employers.
• $588.8 million (over 4 years) to continue range of activities that promote GST compliance.

ATO’s Compliance focus 2023:

1. Capital Gain Tax (CGT)
2. Super contributions
3. Unpaid Super & PAYG-W
4. Late TPARs
5. Cash economy (hidden wages)
6. Work related expenses
7. Holiday homes and rentals

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