“Overall, the GST system is operating well,” ATO small-business deputy commissioner Deborah Jenkins said. “This compares favourably with similar international tax jurisdictions.
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ATO reveals $5.2bn in GST tax gap
The ATO has recently released the 2020-21 GST administration annual performance report with the net GST gap calculated for 2019-20, estimated to be around $5.2 billion or 7.8 per cent, resulting in the ATO receiving over 92 per cent of the GST revenue that was expected to be collected, the bulk of which was collected voluntarily.
