Corporate profits and super boost tax

The total tax collected in the 2006-07 financial year was up $15.4 billion on the previous year to $248 billion. Higher corporate profits contributed an extra 16.8 per cent or $8.1 billion compared with last year while superannuation fund collections were up 28 per cent. The Australian Tax Office managed to recover $5 billion in late taxes and levied $1.2 billion in interest and charges.

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