ATO

ATO Meaning:
The financial acronym ATO stands for the Australian Taxation Office. The ATO, or simply the Tax Office as it is known within Australia, is the main revenue collection agency for the Australian government.

ATO Example:
For example, the Australian Taxation Office or ATO is a part of the Treasurer of Australia’s portfolio and not its own legal entity. The Tax Office is in charge of collecting revenue for the Australian government via the Australian taxation system. The Australian taxation system oversees the collection of taxes such as the income tax and the Goods and Services Tax or GST, a 10% value added tax on goods and services. Excise and superannuation taxes are also collected by the Australian Taxation Office. The office also administers benefits and income tax and GST refunds, as well as higher education loans.