ATO reaps $44m in unpaid tax from execs

THE Australian Tax Office squeezed an average of $107,000 in unpaid tax from every executive and director it reviewed or audited last financial year.

In 2008-2009, the ATO reviewed or audited the returns of 410 executives and directors and raised an additional $44 million in tax liabilities.

The average dividend dwarfs the the average liability found in for other types of ATO reviews of individual tax returns.

This compares to 2700 reviews related to capital gains disclosures for individuals which raised about $16.5 million in liabilities, an average of about $6100 per person.

Read more about tax office investigations at news.com.au.