Annual Review 2018-19

Description

This companion video to our Annual Review 2018-19 provides a snapshot of the revenue we collect to fund public services and infrastructure and the range of grants, subsidies and other supports that we administer.

Transcript

In the financial year 2018 to '19, we collected $19.1 billion in revenue — money which is used to fund the hospitals, schools, parks, public transport, roads, infrastructure and other public facilities and services that Victorians use.

Revenue has continued to grow incrementally.

This year 2 new revenue lines were implemented — the commercial passenger vehicle service levy and point of consumption wagering and betting tax.

First home owners again benefited from grants and savings that helped them move into their own homes.

We paid out $186 million in First Home Owner Grants, an increase of $20 million on the previous year.

First home owners also benefited from stamp duty reductions, exemptions and concessions, which totalling nearly $606 million.

Over the past 5 years these reductions, exemptions and concessions have provided first home owners with savings of more than $1.7 billion.

We also returned millions of dollars in unclaimed money to rightful owners via our unclaimed money register.

It was a particularly busy year for land tax, with a record number of land tax assessments issued and $3.5 billion in revenue collected.

Reflecting an increasingly online world, visitor sessions to our website and online applications continued to increase, reaching 7.6 million.

41% of visitor sessions were to our online applications, including Duties Online.

Our Customer Contact Centre received less phone calls this year, assisting 370,623 people.

They also answered 57,272 emails, actioning 95% of them in one to 5 business days.

While most people pay the right amount of tax at the right time, our investigators reviewed nearly 8,500 cases resulting in over $488.7 million of revenue. This was an increase of almost $24.5 million on the previous year despite investigating nearly 500 fewer cases.

We also helped taxpayers by determining nearly 2,000 objections to 5,043 assessments, with the majority determined within our target time frames.

Read more of the year that was in our Annual Review 2018-19.