This year we raised $73.6 billion in GST cash collections, 1.2% (or $0.9 billion) above the revised budget estimate and 0.7% higher than in 2020–21. This includes $5.7 billion raised by the Department of Home Affairs.
Overall, the GST system is operating well as evidenced by the vast majority of GST revenue collected voluntarily. The net GST gap for 2020–21 is estimated to be 5.9%, meaning that the ATO collects over 94% of the total potential GST revenue.
Source – ATO
Latest Posts in "Australia"
- Australia Proposes GST Updates for Copyright and Digital Media to Modernize Tax Frameworks
- Australia’s e-Invoicing Mandate: Key Highlights
- ATO Proposes New GST Rules for Copyright and Multimedia Transactions in Australia
- Australia Sets 2026 Deadline for Mandatory E-Invoicing with Government Agencies
- Australia Mandates E-Invoicing for Government Agencies by 2026 to Boost Efficiency and Reduce Fraud
