Australians over-claim A$8.7 billion in tax

Australians over-claiming on their tax returns took almost A$9 billion out of the federal government’s budget in just one financial year. The Australian Taxation Office has published an estimate of the tax it collects and the amount which would have been collected if individuals fully obeyed the law. While 93 per cent of income tax from individuals is paid voluntarily, the amount the government missed out on in 2014/15 was 6.4 per cent — about A$8.7 billion.