Senate
Taxation Laws Amendment (Tax File Numbers) Bill 1988
Taxation Laws Amendment (Tax File Numbers) Act 1988
Explanatory Memorandum
(Circulated by authority of the Minister representing the Treasurer, Senator the Hon. Peter Walsh)This memorandum takes account of amendments made by the House of Representatives to the Bill as introduced.
FINANCIAL IMPACT
The revenue gain from the detection of unreported income and voluntary compliance due to the increased risk of detecting income omissions made possible by the measures proposed in this Bill is estimated to increase to $337 million annually by 1993-94 as follows -
| 1988-89 | 1989-90 | 1990-91 | 1991-92 | 1992-93 | 1993-94 |
|---|---|---|---|---|---|
| 10 | 34 | 45 | 193 | 291 | 337 |