The Assistant Treasurer, Senator Nick Sherry, has today highlighted the release of the Tax Office Taxation Statistics for 2007-08.
The Taxation Statistics publication provides a high level of transparency about how the Tax Office administers the tax, excise and relevant parts of the superannuation system.
"The 2007-08 taxation statistics tell an interesting picture of an economy moving towards what we know now was the global financial crisis," said the Assistant Treasurer.
"Capital gains tax and company tax receipts had already begun to taper downwards – and we now know that was followed shortly after by a massive $170 billion in revenue being ripped from the Budget by the worst global recession in 70 years."
"It again just reinforces why the Prime Minister and Treasurer took early, decisive and rapid action to protect Australian jobs and hard-working families."
"We know now that without the Government's stimulus measures, Australia would have fallen into recession with hundreds of thousands of jobs lost and businesses closed. "
"Instead Australia has emerged from the global recession in a stronger position than virtually any other advanced economy with an unemployment rate of 5.3 per cent – around half the unemployment rate in the US and Europe."
The Taxation Statistics also paint an important picture at an individual taxpayer level.
"The statistics also reinforce the Rudd Government's view that the tax system is too complex and costly for everyday Australians with normal tax affairs," the Assistant Treasurer said.
"In 2007-08, the average cost for managing tax affairs by an individual increased 12.4% to $301.34 per person."
"This just underscores the need to simplify the tax system and reduce compliance costs for average Australians."
"Today's figures also show it pays to lodge a tax return – in 2007-08 for example $22.4 billion in tax refunds were paid out," said the Assistant Treasurer.
"But you must lodge to get a refund, so it is good to see that lodgement of individuals tax returns rose by 7.1% in the year to reach 12.6 million lodged income tax returns."
The full statistics are available on the ATO website at www.ato.gov.au