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BUDGET 1997-1998 :STATEMENT 5 - REVENUE



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STATEMENT 5 — REVENUE

CONTENTS

PART I: BUDGET ESTIMATES 5-3

1. Taxation Revenue 5-4

2. Other Taxes, Fees and Fines 5-11

3. Non-Taxation Revenue 5-14

PART II: FORWARD ESTIMATES OF REVENUE AND MEDIUM 
TERM TRENDS 5-16

APPENDIX A: REVENUE MEASURES 5-19

APPENDIX B: REVENUE STATISTICS — 1986-87 TO 1997-98 5-22

 

 

STATEMENT 5 — REVENUE

PART I: BUDGET ESTIMATES

Table 1 compares the revised revenue estimates for 1996-97 with the 1996-97 Budget estimates and provides estimates for 1997-98.

Table 1: Revenue Estimates

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(a) Includes tax on realised capital gains .

(b) Includes Child Support Trust Account receipts ($426 million in 1996-97 and $454 million in 1997-98).

(c) Includes Reportable Payments System payments by individuals ($1 million in 1996-97 and $1 million in 1997-98).

(d) Includes refunds of Child Support Trust Account receipts ($10 million in 1996-97 and $10 million in 1997-98).

(e) Includes impact of classification changes except for the 1996-97 Budget estimate.

 

 

Total revenue in 1996-97 is now estimated to be a little lower than forecast in the 1996-97 Budget with a significant downward movement in com pany tax partly offset by strength in a number of other tax categories.

In 1997-98 total revenue is expected to increase by 2.9 per cent over estimated revenue in 1996-97, with the ratio of revenue to GDP falling to 24.5 per cent. Total tax revenue is expe cted to grow more slowly in 1997-98 at 4.1 per cent, compared with estimated growth of 6.9 per cent in 1996-97. As a share of GDP, taxation revenue is expected to fall to 23.8 per cent. Taxation revenue is expected to increase by 2.0 per cent in real terms.

The continued growth in taxation revenue in 1997-98 reflects ongoing expansion of economic activity as well as the net contribution to revenue from measures announced in this and previous Budgets. The decline in non-tax revenue mainly reflects a lower di vidend from the Reserve Bank of Australia .

Revenue measures contained in this Budget add $71 million in 1997-98; measures have substantially greater effects in later years. A list of revenue measures is included i n Appendix A and described in full in Budget Paper No. 2 .

The revenue estimates are influenced by the rate of income growth (growth in nominal GDP(I) of around 6 per cent) and the following forecasts:

  • average earnings (national accounts basis excluding sup erannuation and redundancies) growth of around 4 per cent;
  • growth in wage and salary employment of 2  per  cent;
  • a rise in 1996 - 97 company income of 3¼  per  cent; and
  • an increase in nominal private consumption of 5¼  per  cent.

Taxation Revenue

Individuals Income Tax

The revised estimates for 1996-97 and estimates for 1997-98 for the major categories of individuals income tax are shown in T able 2.

 

 

Table 2: Individuals Income Tax

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(a) Includes tax on realised capital gains .

(b) Includes Child Support Trust Account receipts ($426 million in 1996-97 and $454 million in 1997-98).

(c) Includes Reportable Payments System payments by individuals ($1 million in 1996-97 and $1 million in 1997-98).

(d) The base Medicare levy reverts to 1.5 per cent in 1997-98 with the cessation of the 0.2 per cent surcharge imposed in 1996-97 for the purpose of buying back certain firearms from the public.

(e) Includes refunds of Child Support Trust Account receipts ($10 million in 1996 - 97 and $10 million in 1997 - 98).

Pay-As-You-Earn (PAYE) Instalment Deductions

Wage and salary earners pa y income tax on a pay as you earn basis through tax instalment deductions made by their employers. However, since the stronger year average growth in economic parameters are due to revisions to history these should be reflected in collections to date.  Collections to end February, however, are running behind profile by about $128m.

Gross PAYE collections (net of the Medicare levy) are expected to rise by 8.0 per cent in 1997-98 in response to forecast growth in average earnings and in wage and salary employment.

Other Individuals

The ‘other individuals’ category includes all collections of income tax paid by individuals, other than those made through the P AYE and Prescribed Payments System (PPS) categories. Tax revenue comprises provisional tax payments and debit assessments on income tax returns (ie where tax credits are insufficient to meet the tax assessed on income). Taxpayers in this category derive their income from salary and wages, business and property income and capital gains , and may also make concurrent payments under the PAYE and PPS categories.

Provisional tax liability in a given year is generally determined by increasing the previous year’s assessed income by a provisional tax uplift factor (currently 6 per cent). Taxpayers who expect their income to grow by less than the uplift factor may elect to lodge a provisional tax variation to reduce provisional tax payments. Current year tax payments for other individuals are made up of provisional tax payments together with any balance on assessment from the previous year’s tax liability.

Revenue from this item is expected to fall by around 0.9 per cent in 1997-98 largely due to lower expected collections from debits on assessments. Debits on assessments in 1996-97 have been exceptionally strong because of robust growth in incomes in 1995-96, which is expected to moderate.

Prescribed Payments System (PPS)

PPS collections represent the withholding, at source, of taxation on payments for prescribed labour and services in specific industries (eg building and construction and ro ad transport). PPS collections generally cover industries where the PAYE form of collections is either infeasible or costly to administer.

Revenue in 1997-98 is estimated to increase strongly mainly reflecting strong growth in the construction industries, viz:

  • forecast growth of 22.5  per  cent in the nominal value of non - residential construction; and
  • forecast growth of 12.5  per  cent in the nominal value of dwelling construction.
Medicare Levy

Collections in 1997-98 are expected to fall by 9.4 per cent owing to:

  • reversion of the base levy to 1.5  per  cent with the cessation of the 0.2  per  cent (of taxable income) surcharge imposed in 1996 - 97 for the purpose of buying back certain firearm s from the public; partially offset by
  • growth in wage and salary incomes.
Individuals Income Tax Refunds

A final assessment of tax liability for individual taxpayers is made on the basis of returns lodged after the end of a financial ye ar. Refunds are made where tax payments exceed the final assessment. Where tax credits are insufficient to meet the final tax liability, taxpayers make an additional payment, which is collected under the other individuals income tax category.

Refunds in 1997-98 are estimated to grow by 8.3 per cent largely on account of:

  • ongoing growth in income tax collected from individuals during 1996 - 97; and
  • the impact of the introduction of the Family Tax Initiative from 1 January 1997, which allows taxpayers to claim the tax relief through refunds (and through the year).
Company and Other Income Tax

Table 3 contains revised estimates for 1996-97 and estimates for 1997-98 for company and other income tax items.

Table 3: Company and Other Income Tax

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(a) Includes tax on realised capital gains .

Company Income Tax

A company’s tax liability is assessed as a flat percentage of its taxable income. The general tax rate is 36 per cent, with concessional rates applying to certain income of li fe assurance companies, registered organisations, pooled development funds and credit unions.

The significant reduction in estimated company tax collections in 1996-97 relative to the 1996-97 Budget estimate (see Table 1) is mainly due to some large companies using stock valuation options to shift forward their income to take advantage of the lower company tax rate applying to the 1994-95 income year.

Estimated company tax collections in 1996-97 are higher than estimated in the MYEFO partly reflecting more information on the extent and implications of corporate tax planning activities associated with the change in the company tax rate.

Company income ta x is forecast to grow by 1.5 per cent in 1997-98 owing to:

  • growth of 3¼  per  cent in company taxable income in 1996 - 97;
  • a recovery in company tax collections associated with the end of tax planning which arose in response to the increase in the company tax rate from the 1995-96 income year;

partly offset by:

  • the end of the bring - forward of company tax revenue associated with the move to quarterly tax payment arrangements for companies.
Superannuation Funds Tax and Surcharge

Superannuation funds are generally taxed at the concessional rate of 15 per cent in relation to investment income and certain contributions received. Payments are made according to the same schedule as applies to company income tax.

Tax collections under this category have generally been volatile: the strong increase in collections in 1996-97 has followed negative growth in 1995-96. Although the reasons for the large surge in superannuation funds tax collections in 1996-97 are not fully clear, strong growth in contributions, high realisations of capital gains and strong growth in interest income have been contributing factors.

The estimated increase in collections in 1997-98 of 1.6 per cent is attributable to:

  • growth in co ntributions to superannuation funds; and
  • the surcharge on employer and deductible member superannuation contributions on behalf of or by high income earners;

partly offset by:

  • the end of the bring - forward of superannuation funds tax payments associated wit h the move to quarterly tax payment arrangements; and
  • an anticipated easing in capital gains tax payments by superannuation funds from an unusually high level in 1996-97.

Because the reasons behind the st rong growth in 1996-97 collections are not fully known, the estimate for 1997-98 is subject to more than the usual degree of uncertainty.

Withholding Tax

Withholding tax is levied on:

  • income payments to r esidents who, when making an investment, do not supply the investment body with a tax file number;
  • certain interest, dividend and royalty payments to non-residents; and
  • payments made to Aboriginal groups for the use of Aboriginal land for mineral exploration and mining.

The estimated increase in withholding tax in 1997-98 of 9.8 per cent is attributable to strong growth in expected collections of interest withholding tax and continued growth in dividend withholding tax.

Petroleum Resource Rent Tax (PRRT)

Under the Commonwealth’s Petroleum (Submerged Lands) Act 1967, PRRT applies to offshore areas other than the North West Shelf production licence areas and associated exploration permit areas, which are subject to excise and royalty arrangements. PRRT is levied at the rate of 40 per cent of taxable profit from a petroleum project.

The strong increase in PRRT collections in 1996-97 represents a large one-off payment related to the settlement of the dispute between the Victorian gas utilities and their gas suppliers. The gain in tax revenue is largely offset by the payment of $556 million to the Victorian Government under the Deed for the Return of Tax Payments between Victoria and the Commonwealth.

In 1997-98, PRRT revenue is expected to return to more normal levels.

Fringe Benefits Tax (FBT)

FBT applies to a range of benefits provided by employers to their employees or associates of their employees.

FBT collections are estimated to remain broadly unchanged under the offsetting influences of remuneration growth and a reduction in the statutory interest rate used to determine the value of fringe benefits flowing from low interest loans.

Indirect Tax

A summary of the revised 1996-97 estimates and estimated revenue for 1997-98 for components of indirect tax is contained in Table 4.

Table 4: Indirect Tax

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(a) Includes aviation gasoline, aviation turbine fuel, fuel oil, heating oil and kerosene and refunds/drawbacks relating to petroleum products excise.

Wholesale Sales Tax (WST)

WST is imposed on a range of goods destined for consumption in Australia and is levied at the last wholesale or import point on the wholesale sales value of taxable goods. In 1997-98, tax able goods will continue to be subject to tax rates of either 12, 22, 26, 32 or 45 per cent, depending on the classification of the goods involved.

The estimated increase in WST revenue of 5.7 per cent mainly reflects forecast growth in nominal demand for taxable goods.

Excise Duty

Petroleum products excise includes excise on motor spirit (petrol), diesel fuel, aviation gasoline, aviation turbine fuel, fuel oil, heating oil and kerosene. It is imposed at specific rates per litre of product. Crude oil and LPG excise includes excise collected from fields in the North West Shelf production license areas not subject to PRRT.

Excise revenue from total petroleum products is expected to increase by 2.6 per cent in 1997-98 reflecting an expected increase in consumption of diesel fuel and unleaded petrol and the indexation of excise rates. The fall in excise collections from leaded petrol reflects a continuing decline in the number of vehicles which exclusively use leaded petrol. The increase in excise collections from crude oil and LPG production reflects the expectation that the Wanaea field will become excisable in late 1997 (a delay of seven months on the forecast in the 1996-97 Budget).

Other excise is derived from beer, potable spirits and tobacco products. It is imposed at a specific rate per kilogram on tobacco products, on the alcoholic content of beer in excess of 1.15 per cent and on the distilled alcohol in other products such as spirits and mixed drinks. Beer with an alcoholic content below 1.15 per cent is subject to an excise rate of zero. Wine, wine products and other fermented alcohol are exempt from duty.

Excise revenue from these products is expected to remain broadly unchanged in 1997-98 reflecting indexation of excise rates offset by falling or static product volumes. Tobacco product and brandy volumes are expected to continue to decline, while other volumes are expected to remain around 1996-97 levels.

Excise Indexation

The rates of duty for excisable commodities (with the exception of crude oil and LPG) are adjusted each August and February in line with half-yearly CPI movements. If the change in the CPI is negative, the excise rate is not reduced but instead the decline is carried forward to be offset against the next positive CPI movement.

All revenue from the excise duty on aviation gasoline and aviation turbine fuel is appropriated to the Civil Aviation Safety Authority (CASA) and Airservices Australia as a contribution to cost recovery. In addition to the changes from indexation described above, the excise rates applying to these fuels are adjusted as necessary according to the funding requirements of those agencies.

Existing excise rates are shown in Table 5.

Table 5: Excise Rates

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(a) The excise rates applying to aviation gasoline and aviation turbine fuel were reduced by $0.0075 per litre on 1 September 1996 to $0.17931 per litre and $0.01778 per litre respectively to reduce over-recovery of revenue necessary to fund CASA and Airservices Australia.

Customs Duty on Imports

Ad valorem tariffs are applied to many categories of imports. Customs duty revenue is affected by the $A value of imports, the level of the statutory tariff rates applied to imports and the composition of imports between high and low tariff rates. Around 70 per cent of total imports by value enter duty free.

The expected increase in customs duty revenue of 4.0 per cent in 1997-98 reflects the rise in the total value of imports, partly offset by continuing tariff rate reductions.

Other Taxes, Fees and Fines

The revised 1996-97 and 1997-98 estimates of other taxes, fees and fines are shown in Table 6.

Table 6: Other Taxes, Fees and Fines

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(a) Includes Telecommunications Act Carrier Licence Fees, Coal Mining Industry Levy and the Interstate Road Services Charge.

Primary Industry Charges

The fall in industry charges reflects reforms to the Australian Quarantine and Inspection Service’s export meat inspection programme and implementation of a company based inspection system focussing on quality assurance.

Primary Industry Levies

The reduction in Primary Industry levies is due mainly to a reduction in the Wheat Industry Fund Levy. This reflects an expectation of lower world prices and reduced production levels in the 1997-98 financial year.

Broadcasting and Television Station Licence Fees

The increase in broadcasting and television licence fees reflects the expected growth of commercial broadcasters’ gross advertising revenue, on which the fees are based, as well as a reduction in the equalisation rebates due to commercial television broadcasters participating in the equalisation scheme.

Radiocommunications Licence Fees

Revenue from Radiocommunications Licence Fees has been reduced primarily to reflect the Government’s announcement in October 1996 confirming its intention to proceed with analogue mobile phone (AMPS) phase out by January 2000 and the detailed arrangements and time-table for the phase out. The phase out will reduce the fees paid by the telecommunications carriers for the use of AMPS spectrum.

International Passenger Movement Charge

The expected revenue increase reflects a forecast increase in the number of international passengers of 10 per cent with the charge remaining at $27. Revenue from this item seeks to recover the costs of Customs, Immigration and Quarantine processing of international travellers at Australian airports and seaports as well as the costs of processing short-term visitor visas.

Immigration Fees and Charges

Revenue from immigration fees is expected to rise in 1997-98 largely as a result of the full year effect of increases introduced in the 1996-97 Budget which include:

  • an increase in the Migrant Application fee on 1  May  1997;
  • the change of status to permanent residency fee increasing from 1 October 1996; and
  • the application fee for a student visa increasing on 1 October 1996 with a further increase on 1 May 1997.

Measures announced in this Budget include the rationalisation of temporary business entry visa sub-classes, cost recovery for health assessments, health undertakings and medical reviews, and increased cost recovery for citizenship processing. A fall in the number of applications for 1997-98 is expected to be offset by the higher level of fees.

Non - Taxation Revenue

The revised estimates of non-tax revenue for 1996-97 and estimates for 1997-98 are shown in Table 7.

 

Table 7: Non - Taxation Revenue

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(a) Comprises Telstra Corporation and Australian Postal Corporation.

(b) Comprises the Federal Airports Corporation and Airservices Australia .

(c) Comprises the Export Finance and Insurance Corporation , Commonwealth Funds Management Ltd , Housing Loans Insurance Corporation , the Australian Industry Development Corporation , Australian Defence Industries Ltd , Defence Housing Authority , the Pipeline Authority and other non - tax revenue.

Interest Revenue

Interest Revenue from the States, NT and ACT

This item comprises interest revenue from the States and Territories on General Purpose and Specific Purpose Borrowings.

The Commonwealth receives interest payments from the States in respect of borrowings made on behalf of the States under the State Governments’ Loan Council Programme and from the Northern Territory in respect of advances made under similar general purpose capital assistance arrangements. Payments relating to these advances are made in turn by the Commonwealth to bondholders.

Interest from the States on General Purpose Borrowings is declining as a result of the June 1990 Loan Council decision that the States make additional payments to the Debt Retirement Reserve Trust Account (with analogous payments from the Territories) each year, to facilitate the redemption of all maturing Commonwealth securities issued on their behalf. The reduction in interest received from the States and Territories is matched by a reduction in public debt interest outlays.

Interest will be lower in 1997-98 compared to 1996-97 reflecting repayments of outstanding debt to the Commonwealth in 1996-97.

The Commonwealth receives interest on advances made under Commonwealth-State Housing Agreements, States (Works and Housing) Assistance Acts, Northern Territory Housing Advances and from the Australian Capital Territory on debts assumed upon self-government.

Interest from the States on Specific Purpose Borrowings will be lower in 1997-98 compared to 1996-97 reflecting repayments of advances to the Commonwealth in 1996-97.

Dividends and Other
Communications Government Business Enterprises (GBEs) Dividends

Total dividends from communications GBEs are expected to fall by around 16 per cent as a result of a reduction in the Commonwealth’s entitlement to Telstra’s dividend follow ing the sale of one-third of the Commonwealth’s equity in Telstra, partially offset by a special dividend payment by Australia Post .

Transport GBEs Dividends

Total d ividends from transport GBEs are estimated to increase by around 25 per cent. This is principally due to an expectation of an increased Federal Airports Corporation dividend for 1997-98, as a result of higher traffic growth leading to greater operating profits for the 1996-97 financial year.

Reserve Bank of Australia (RBA)
The Reserve Bank Act 1959 requires the RBA to pay its net earnings to the Commonwealth after contingencies and appropriations to reserves.

The l ower dividend estimate in 1997-98 reflects the effect on the RBA’s 1996-97 earnings of expected asset valuation adjustments arising mainly from changes in exchange rates during 1996-97. The stronger the Australian dollar, the lower is the value of the RBA’s foreign exchange assets in Australian dollar terms. Changes in the structure of domestic and international interest rates are also expected to reduce the RBA’s underlying earnings.

Royal Australian Mint (RAM)

Revenue from the RAM includes seigniorage from circulating coin production, royalties from numismatic coin sales and annual dividends from the profits the Mint makes as the manufacturer of these products. The estimated increase in revenue in 1997-98 mainly reflects increases in numismatic royalties and profits associated with the Olympics coin numismatic programme.

 

PART II: FORWARD ESTIMATES OF REVENUE and

Medium Term Trends

Estimates of the major categories of revenue, for 1997-98 to 2000-01, are shown in Table 8.

Table 8: Revenue Estimates

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The revenue projections have been made on the conventional assu mption of no change in current policy. The forward estimates of revenue are principally affected by projected growth in economic parameters and policy measures contained in this and previous Budgets.

Chart 1 shows actual taxation revenue and GDP(I) growth in nominal terms for the period from 1986-87 to 1995-96, and estimated growth for the years 1996-97 to 2000-01. Taxation revenue generally mirrors economic activity during periods of fairly steady eco nomic growth (as depicted by the economic projections in this Budget), but tends to swing more sharply during periods of economic contraction and expansion and more sharply than nominal GDP(I) growth itself.

The forward revenue estimates are also particul arly susceptible to tax minimisation and avoidance actions by taxpayers which over time erode the tax base. Measures taken in this Budget have an impact on revenue in 1997-98 and 1998-99 and serve to protect the tax base.

Longer term trends in major components of total tax revenue are shown in Chart 2. Total tax revenue as a share of GDP fell sharply in the early 1990s and is not expected to fully recover over the forward estimates period to its level of ten years ago.

Chart 1: Growth in Taxation Revenue and Nominal GDP

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Chart 2: Tax Revenue as a share of GDP

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Within this overall trend, there have been some important compositional changes. Company tax as a proportion of GDP has increased since 1986-87, despite reductions in the company tax rate. The reasons for the trend rise in company tax may be traced back to influences such as the general improvement in corporate profitability and the tendency toward incorporation by small businesses. By the same token, the increasing incidence of incorporation is likely to be a factor explaining the trend decline in other individuals income tax as a share of GDP.

There has been a steady decline in the relative importance of indirect tax collections over the past ten years. Excise duties have declined significantly as a proportion of GDP owing to much lower collections of crude oil and LPG excise, following the extension of the PRRT to Bass Strait, and slower growth in consumption of alcohol and tobacco. Customs duty collections have also fallen significantly, largely due to tariff reductions announced in 1988 and 1991. Sales tax collections have increased slightly over the period, mainly because of increases in sales tax rates and some base broadening.

The past ten years has also seen the introduction of new taxes such as the FBT, tax on supe rannuation funds, PRRT, resident withholding tax, and royalties withholding tax.

 

Appendix A: Revenue Measures

Table A1: Revenue Measures

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Table A1: Revenue Measures — continued

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Table A1: Revenue Measures — continued

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.. Not zero, but rounded to zero.

* The nature of the measure is such that a reliable estimate cannot be provided.

† The measure will protect the revenue base used for the forward estimates, by removing opportunities for significant future expansion of tax minimisation practices. In the absence of the measure, to the extent that the revenue base would not be protected, there would be a significant revenue loss compared to the forward estimates.

‡ The measure will result in unquantifiable revenue gains to the extent of existing tax minimisation.

  1. A minus sign before an estimate indicates a reduction in revenue; no sign before an estimate indicates a gain to revenue.
  2. This measure is listed under income tax as most of the additional revenue raised ($30m in both 1998-99 and 1999-2000) is in the form of additional income tax collections; the remainder of the additional revenue raised ($10m in both 1998-99 and 1999-2000) is in the form of increased recoveries of the proceeds of crime.
  3. Includes running costs for the programme.
  4. The measure will reduce outlays compared with forward estimates for matching Government superannuation contributions as described in the 1995-96 Budget. The net fiscal impact of implementing the savings rebate but not going ahead with matching Government superannuation contributions will be positive.
  5. Includes measures amended or rejected by the Senate up to the 1997-98 Budget.
  6. A description of the measure is provided in the 1996 - 97 Mid - Year Economic and Fiscal Outlook and is not repeated in this document.
  7. Measures may not sum to totals due to rounding.

 

Appendix B: Revenue Statistics — 1986-87 to 1997-98

Table B1: Commonwealth Government Budget Revenue ($million) (a)

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Table B1: Commonwealth Government Budget Revenue ($million) (a) — continued

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Table B1: Commonwealth Government Budget Revenue ($million) (a) — continued

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Table B1: Commonwealth Government Budget Revenue ($million) (a) — continued

image (a) Figures for all past years have been revised for classification changes.

(b) Revised Estimate.

(c) Budget Estimate.

 

 

Table B2: Real Rate of Change in Commonwealth Government Budget Revenue Items (per cent) (a)(d)

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Table B2: Real Rate of Change in Commonwealth Government Budget Revenue Items (per cent) (a)(d) — continued

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Table B2: Real Rate of Change in Commonwealth Government Budget Revenue Items (per cent) (a)(d) — continued

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Table B2: Real Rate of Change in Commonwealth Government Budget Revenue Items (per cent) (a)(d) — continued

image (a) Nominal increases deflated by movements in non - farm GDP deflator.

(b) Revised estimate.

(c) Budget estimate.

(d) na denotes change from zero to positive values.

 

 

Table B3: Major Categories of Revenue as a Proportion of Gross Domestic Product (per cent)

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(a) The totals for these categories include Medicare levy collections.

(b) The total for the individuals category includes Medicare levy collections and refunds.

(c) The total for the income tax category also includes refunds, Medicare levy collections, collections from superannuation funds, PRRT and withholding tax.

(d) The ‘other’ category includes excise from beer, potable spirits and tobacco. A more detailed decomposition — for 1996 - 97 and 1997 - 98 and by value of collections — is shown in Table 4 of this Statement.

(e) As well as excises, sales tax and customs duty, ‘other taxation revenue’ includes other taxes, fees and fines.

(f) Revised Estimate.

(g) Budget Estimate.

 

 

Table B4: Major Categories of Revenue as Proportions of Total Revenue

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(a) The totals for these categories include Medicare levy collections.

(b) The total for the individuals category includes Medicare levy collections and refunds.

(c) The total for the income tax category also includes refunds, Medicare levy collections, collections from superannuation funds, PRRT and withholding tax.

(d) The ‘other’ category includes excise from beer, potable spirits and tobacco. A more detailed decomposition — for 1996-97 and 1997 - 98 and by value of collections — is shown in Table 4 of this Statement.

(e) As well as excises, sales tax and customs duty, ‘other taxation revenue’ includes other taxes, fees and fines.

(f) Revised estimate.

(g) Budget estimate.