• Federal Budget 2020-2021

Further funding to crackdown on organised crime

In the 2017-18 Federal Budget, the Government announced that it would provide funding to the Australian Taxation Office (ATO) to target serious and organised crime in the tax system. This integrity measure was implemented to enable the ATO to continue its compliance work against such crime.

2020-21 Extension

With the Government’s original funding due to cease on 30 June 2021, the Morrison Government will provide $15.1 million in further funding to target serious and organised crime in the tax and superannuation systems. This funding will extend the original budget measure by an additional two years to 30 June 2023.

The Government estimates that this measure will ultimately provide a gain to the budget of $136.8 million over the next four years.

BDO Comment

BDO acknowledges that serious and organised crime imposes significant costs to Australia, and in particular, its honest businesses and individuals. In a time where these taxpayers are likely to be hurting the most, BDO supports the Government’s continued commitment to crack down on these crooks.