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The Treasury today released the 2012 Tax Expenditures Statement. The statement provides details of concessions, benefits and incentives delivered to taxpayers through the tax system. These are referred to as ‘tax expenditures’.
The 2012 Tax Expenditures Statement lists 363 tax expenditures and, where possible, provides an estimate of the value or order of magnitude of the benefit to taxpayers.
In dollar terms, total measured tax expenditures are estimated at around $111 billion in 2011-12.
The 2012 Tax Expenditures Statement is available on the Treasury website. Alternatively, hard copies of the Statement can be obtained by calling 1800 020 008, or emailing publications@treasury.gov.au.