Diving into the tax watchdog’s latest report on undisputed tax debts

The ATO’s debt book has swollen to $34 billion, with COVID-19 exacerbating an issue that has been growing over the years. But who is contributing to this growth, and is the ATO being used as an unofficial bank? In this episode of Accountants Daily Insider, the Inspector-General of Taxation, Karen Payne, joins host Jotham Lian to discuss her agency’s latest report on undisputed tax debts in Australia. Karen reveals which industry accounts for the highest levels of debt, the breakdown of taxpayer groups responsible for the growing debt, and how a majority of collectable debts are owed by just a minority. Follow along with the conversation by accessing the IGTO’s summary slides. You can also access the full final report here.