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What is the Tax Expenditures and Insights Statement?
The 2024–25 Tax Expenditures and Insights Statement (TEIS) estimates the revenue forgone through tax expenditures. It also provides data on how large tax expenditures and common tax system features are distributed across individuals and businesses.
Why is transparent reporting important?
Transparent reporting of tax expenditures helps show the full impact of government policies on individuals, households, and businesses. It also highlights revenue the Government does not collect due to certain tax features.
What are tax expenditures?
Tax expenditures include:
- Concessional rates – reduced tax rates for specific groups or types of income.
- Exemptions – exclusions for certain groups or income from paying tax.
- Allowances, credits, or rebates – deductions from the tax base or refunds of taxes paid.
- Tax deferrals – postponements of tax payments to a later date.
Access more details
The TEIS includes estimates of revenue forgone and distributional analysis. Chart data is available in Excel format.