There were more than 12,000 income millionaires in Australia
in the 2016/2017 tax season – 69 managed to pay no taxes at all for that time period.
This number is rising according to reporting by the Guardian
, which reviewed newly released tax statistics for 2016/17. In 2015/16, 62 income millionaires skirted all tax liabilities to the state, that number was only 48 in 2014/15.
In total, millionaire taxpayers payed AUS$12.2 billion in income tax. Items frequently claimed by millionaires were gifts and donations, totaling AUS$582.5 million and employer termination payments, totaling AUS$310.2 million. Income millionaires also claimed tax management services totaling AUS$55.5 million, since a savvy accountant is the only way to achieve a tax bill as low as $0.