ATO action nets $5.6b

A CLAMPDOWN on tax avoidance by big corporations and wealthy individuals has allowed the Australian Taxation Office to rake in an extra $5.6 billion in two years.

ATO deputy commissioner Mark Konza said the authority had been better able to scrutinise the tax paid by major companies since its tax avoidance task force was established in 2016.

The top 1000 multinational and public corporations, along with 320 private groups and wealthy individuals who control them, have been in the task force’s sights.