Quick facts from Tax stats

May 2015

Every year the Australian Tax Office publishes data from income

tax returns and other aspects of the taxation system.

Data for 2012-13 has recently been released in the latest edition

of Taxation statistics

The charts in these slides highlight some of the tax data that is

available in this electronic resource.

1

www.ato.gov.au/About-ATO/Research-and-statistics

Taxation statistics

How much did individuals in each income tax bracket pay in tax?

2

One third of personal income tax was paid by individuals with taxable income below $80,000, while two thirds was paid by those with taxable income above $80,000

$18,200 or less $18,201 to $37,000 $37,001 to $80,000 $80,001 to $180,000 Over $180,0000%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Share of individuals lodging a tax return Share of net income tax

Taxable income

Per cent Per cent

What were the sources of income for superannuation funds?

3

Around 60 per cent of superannuation income was from employer and employee contributions (the blue areas) and 40 per cent was from investment earnings (the red areas)

Net capital gains1.4%

Rent3.2%

Gross interest6.5%

Net foreign income6.7%

Dividends 10.9%

Trust income10.4%

Salary sacrifice7.3%

Employer contribu-tions (excl. salary

sacrifice)49.6%

Assessable personal contribu-tions3.7%

Other0.3%

How much company income tax is paid by companies of different sizes?Around 60 per cent of company income tax was paid by companies with

income of $250 million or more

4

Less than $2m709,185 companies

11.3% of tax

$2m to $10m54,860 companies

9.9% of tax

$10m to $100m14,510 companies

12.1% of tax

$100m to $250m1,130 companies

4.4% of tax

$250m or more1,040 companies

60% of tax

Other71,135 companies

0.3% of tax

Who claimed franking credits?

5

Australian companies issued franking credits of $43.5 billion, which were generally

received (sometimes via a trust) by other companies, superannuation funds,

individuals and foreigners

Franking credits are credits that Australian

shareholders can apply against their

tax liability for the tax paid by

a company

Companies$43.5 billionFranking credits

issued

$10 billion

Trusts$10b

$8.9 billion

$4.3

bSMSFs$2.7b

$0.3b

APRA funds$3.6b

$2.4 billion

$2.2 billion$1.4b

$1.9 billion

$8.4b

$13.5 billion

$2.1

b

Overseas & other$15.6b

Individuals$13.2b

NotesSource: Australian Taxation Office, Taxation Statistics 2012-13. Data is based on tax returns processed by 31

October 2014.

Slide 3. Investment earnings excludes exempt current pension income.

Slide 4. Total income is used as a measure of company size. Non-resident companies are not shown in the pie chart

but are included in the percentage calculations. 'Other' includes companies classified as a co-operative, registered

organisation, non-profit, strata title, pooled development fund, limited partnership, corporate unit trust or a public

trading unit trust.

Slide 5. ‘Overseas and other’ is a residual amount, of which the majority will be payments to foreigners who cannot

utilise the credits to offset Australian company tax paid. In addition, some companies report on alternative income

years (e.g. calendar year), so some franking credits may appear in the previous or following income year of the

recipient. ‘Trusts’ includes around $0.1 billion paid to partnerships. Franking credits paid by trusts and partnerships

to other trusts and partnerships have been netted out. For franking credits paid to SMSFs, the split of the total ($2.7

billion) between direct payment from companies and indirect payment through trusts has been imputed from

historical data. The $8.9 billion claimed by Australian companies includes $2.4 billion from ‘Trusts’ distributions.