Voluntary disclosures

Where people identify they have made a mistake or omission in a previously lodged tax return or activity statement, we encourage them to disclose this and work with us to fix the problem.

We raised $975 million in liabilities as a result of voluntary disclosures. This included around $294 million in additional GST liabilities, with cash collections of $285 million, as a result of voluntary disclosures from large businesses in 2015–16.

TABLE 2.7 Penalties and interest, 2011–12 to 2015–16
 

2011–12
$m

2012–13
$m

2013–14
$m

2014–15
$m

2015–16
$m

Penalties

Applicable

1,729

1,574

3,999

1,633

1,362

 

Remitted(a)

391

93

1,163

549

296

 

Collected

564

582

788

498

666

Interest

Applicable

4,782

3,390

3,656

3,557

1,519

 

Remitted(a)

1,643

699

1,285

884

854

 

Collected

2,402

2,717

2,254

1,887

1,706

  1. The remitted penalties and interest figures for 2014–15 have been adjusted to reflect prior-year corrections identified and made.