Analysis of debt 2017-18
|Tax base||Total debt 30 June 2018
|< 30 days
|> 90 days
|Provision for doubtful debt ($)||Total debt 30 June 2017
|Hire of Goods||193||0||0||193||0||193|
|Registered Used Vehicle Duty||0||0||0||0||0||0|
|Motor Vehicle Duty||1,159,049||88,449||71,827||998,773||355,890||880,717|
|Financial Institutions Duty||0||0||0||0||0||0|
|Cattle and Swine Duty||39,914||3,415||3,600||32,899||0||39,151|
|Total other taxes||176,730,080||58,170,604||16,279,272||102,280,204||64,645,082||291,944,986|
Summary of written off debt 2017-18
|Hire of Goods||0|
|Motor Vehicle Duty||109,574|
|Sheep and Goat||0|
|Cattle and Swine||0|
|Total debt written off||16,585,386|
Notes (all figures are taken as at 30 June 2018)
- These figures are reported in accordance with the debt reporting policy that forms the basis of the State Revenue Office’s debt management program. The policy’s critical elements are:
- assessed tax is reported as debt once the due date for payment has passed, and
- the reported debt comprises primary tax only.
- Debt under instalment payment arrangements was $26,685,115
- Disputed debt was $76,734,085 and is not shown in the total debt.
- Insolvency debt was $76.7 million. This debt is comprised of debtors under the control of an insolvency practitioner with State Revenue Office recoveries limited to any dividends paid. Insolvency debt is not included in the debt total.
- There was no deferred debt.
- Outstanding penalty, interest and additional tax charges totalled $39,268,971.
- Debts are only written off when all reasonable recovery steps have been exhausted.