2022-23 Tax Expenditures and Insights Statement

The Tax Expenditures and Insights Statement (TEIS) provides estimates of the revenue forgone from tax expenditures, along with distributional analysis on large tax expenditures and commonly utilised features of the tax system.

Transparent reporting of tax expenditures and other aspects of the tax system provides a more complete picture of the impact of government policies on individuals, households and business, and any revenue forgone.

The TEIS reports information about revenue the Government does not collect through tax expenditures such as:

• Concessional rates that reduce the rate of tax that applies to certain groups or types of incomes
• Exemptions that exclude certain groups from paying tax on income they receive
• Allowances, credits or rebates that either deduct amounts of income from the tax base or refund a portion of taxes already paid
• Tax deferrals that postpone paying of taxes until a later date.