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  • High wealth income tax gap

    In this document you'll find information about estimating the high wealth income tax gap. This gap forms a part of our overall tax performance program.

    High wealth private groups are defined as Australian resident individuals who, together with their associates, control wealth of more than $50 million. For the purpose of estimating this gap, we include:

    • registered individuals linked to a high wealth private group
    • companies where ownership by the head individual is 40% or more.

    Companies with total business income greater than $250 million are included in the large corporate groups income tax gap.

    The income of high wealth private groups includes distributions from trusts and partnerships that are part of their structure. These amounts are accounted for as part of this gap estimate.

    For 2017–18, the net income tax gap estimate for high wealth private groups was $808 million or 7.4%. This means we estimate they paid more than 92% of the total theoretical tax payable for 2017–18.

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      Last modified: 19 Oct 2020QC 61748