Tuesday, 10 Jun 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • 🔥
  • Trump
  • House
  • White
  • VIDEO
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Colossal
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > World News > Millions of unpaid property tax discovered: Inland Revenue
World News

Millions of unpaid property tax discovered: Inland Revenue

Last updated: May 8, 2025 7:08 pm
Share
Millions of unpaid property tax discovered: Inland Revenue
SHARE
The Inland Revenue (IR) has identified a significant tax shortfall in the property sector, with at least $150 million in unpaid taxes discovered in the first nine months of the current financial year. This includes undeclared income tax and GST from developers, property investors, and individuals subject to the bright-line test.

Developers and GST bills are the main sources of discrepancies, totaling $153.5 million, similar to the previous year’s findings. IR has noticed a trend where property developers claim tax refunds for costs incurred but fail to pay taxes when the properties are sold.

IR is taking swift enforcement action when discrepancies are identified, with a 48% increase in discrepancies from developers compared to the previous year. Additionally, a campaign has been launched to educate individuals on their tax obligations under the bright-line rules, resulting in $3.68 million in voluntary disclosures.

The rise in discrepancies related to companies and individuals manipulating land use or ownership transfers to avoid GST obligations has also been noted. IR’s automated tools and analytics have detected a 39% increase in discrepancies in this area compared to the previous financial year.

Overall, IR is actively addressing tax non-compliance in the property sector and urging individuals to fulfill their tax obligations to avoid enforcement actions.

See also  Mini-Moon With Mahabharata Connection Will Not Be Visible To Eyes: ISRO
TAGGED:DiscoveredInlandMillionspropertyRevenuetaxUnpaid
Share This Article
Twitter Email Copy Link Print
Previous Article Manchester United, Tottenham to meet in Europa League final: When is it, where and how to watch, start time Manchester United, Tottenham to meet in Europa League final: When is it, where and how to watch, start time
Next Article Michelle Obama Reveals Cruel Joke Barack Made After Her Mother’s Death Michelle Obama Reveals Cruel Joke Barack Made After Her Mother’s Death
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

See How Modern Artists Obsessed With Death and Darkness Looked to Medieval Gothic Artworks for Inspiration

The Garden of Death, Hugo Simberg, 1896 Jenni Nurminen / Finnish National Gallery / Ateneum Art…

November 14, 2024

Elvis Presley’s Secret Double Life, Occult Leaning Revealed In New Book

Elvis Presley's Supernatural Powers Revealed in New Book Elvis Presley, the King of Rock 'n'…

May 7, 2025

Influenza Viruses: What’s In A Name?

However, if they are infected with a different subgroup, they may not have as much…

December 25, 2024

Productivity and the Worth of Work in Tolstoy’s Anna Karenina

Exploring the Meaning of Work Through Leo Tolstoy’s Anna Karenina Leo Tolstoy. This article was…

March 3, 2025

South Africa Is Rising Up Out of The Ocean, Scientists Reveal : ScienceAlert

South Africa Rising Due to Climate Change- New Study Reveals As climate change intensifies, South…

June 1, 2025

You Might Also Like

Argentina’s top court upholds Kirchners 6 year prison sentence. : NPR
World News

Argentina’s top court upholds Kirchners 6 year prison sentence. : NPR

June 10, 2025
The 17-year-old rodeo star | Star News
World News

The 17-year-old rodeo star | Star News

June 10, 2025
US Rep. LaMonica McIver indicted on federal charges from skirmish at New Jersey immigration center
World News

US Rep. LaMonica McIver indicted on federal charges from skirmish at New Jersey immigration center

June 10, 2025
Trump’s Real War Is Against America
World News

Trump’s Real War Is Against America

June 10, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?