The Abbott Government will improve tax transparency through sending a one-page personalised tax receipt to 10 million individual taxpayers.
The Australian Taxation Office receipt will show, in dollar terms, how much of your tax bill is spent on each Budget area.
The receipt will also show the level of gross government debt and how much of your tax was spent on the debt interest bill.
The ATO will mail the personalised tax receipt to individual taxpayers with their notice of assessment.
The Coalition understands that every dollar the Government has, it holds on trust for the taxpayer.
This Government initiative honours an election commitment and will help keep pressure on Governments to spend taxation revenues wisely.
Example 1 - Total tax assessed $5000 [PDF 209KB]
Example 2 - Total tax assessed $10000 [PDF 210KB]
Example 3 - Total tax assessed $20000 [PDF 210KB]