ATO Debt Book Explodes

The ATO's annual report for FY2022 is out and that means we get a look at jus show much debt the ATO has sitting on its books.

Over the pandemic period, when the ATO effectively stopped enforcing debts, unpaid tax ballooned from $26.5 billion at 30 June 2019 to $44.8 billion as at 30 June 2022. Small businesses are the largest segment, with collectable debts owing of $29.3 billion

While the ATO has tentatively restarted its 'firmer and stronger actions' debt recovery program, it's going to take a long time to work through the backlog.