Australian Government, 2013-14 Budget
Budget

Appendix D: Historical Australian
Government Data

This appendix reports historical data for the Australian Government fiscal aggregates across the general government, public non‑financial corporations and non‑financial public sectors.

Data sources

Data are sourced from Australian Government Final Budget Outcomes, the Australian Bureau of Statistics (ABS), the Australian Office of Financial Management and Australian Government Consolidated Financial Statements.

  • Accrual data from 1996‑97 onwards and cash data, net debt data, net financial worth data and net worth data from 1999‑2000 onwards are sourced from Australian Government Final Budget Outcomes. Back‑casting adjustments for accounting classification changes and other revisions have been made from 1998‑99 onwards where applicable.
  • Cash data prior to 1999‑2000 are sourced from ABS data, which have been calculated using methodology consistent with that used for later years in ABS cat. no. 5512.0 Government Finance Statistics.
  • Net debt data prior to 1999‑2000 are from ABS cat. no. 5512.0 Government Finance Statistics 2003‑04 in 1998‑99, ABS cat. no. 5501.0 Government Financial Estimates 1999‑2000 and ABS cat. no. 5513.0 Public Sector Financial Assets and Liabilities 1998 in 1987‑88 to 1997‑98, and Treasury estimates (see Treasury's Economic Roundup, Spring 1996, pages 97‑103) prior to 1987‑88.

Comparability of data across years

The data set contains a number of structural breaks owing to accounting classification differences and changes to the structure of the budget which cannot be eliminated through back‑casting because of data limitations. These breaks can affect the comparability of data across years, especially when the analysis is taken over a large number of years. Specific factors causing structural breaks include:

  • from 2005‑06 onwards, underlying Government Finance Statistics (GFS) data are provided by agencies in accordance with Australian Accounting Standards (AAS) which includes International Financial Reporting Standards (IFRS) as adopted in Australia. Prior to 2005‑06, underlying GFS data are based on data provided by agencies applying AAS prior to the adoption of IFRS;
  • most recent accounting classification changes that require revisions to the historical series have been back‑cast (where applicable) to 1998‑99, ensuring that data are consistent across the accrual period from 1998‑99 onwards. However, because of data limitations, these changes have not been back‑cast to earlier years;
  • prior to 1999‑2000, Australian Government general government sector debt instruments are valued at historic cost, whereas from 1999‑2000 onwards they are valued at market prices (consistent with accrual GFS standards). This affects net debt and net interest payments;
  • cash data up to and including 1997‑98 are calculated under a cash accounting framework, while cash data from 1998‑99 onwards are derived from an accrual accounting framework.1 Although the major methodological differences associated with the move to the accrual framework have been eliminated through back‑casting, comparisons across the break may still be affected by changes to some data sources and collection methodologies;
  • adjustments in the coverage of agencies included in the accounts of the different sectors. These include the reclassification of Central Banking Authorities from the general government to the public financial corporations sector in 1998‑99, and subsequent back‑casting to account for this change;
  • changes in arrangements for transfer payments, where tax concessions or rebates have been replaced by payments through the social security system. This has the effect of increasing both cash receipts and payments, as compared with earlier periods, but not changing cash balances. Changes in the opposite direction (tax expenditures replacing payments) reduce both cash payments and receipts; and
  • classification differences in the data relating to the period prior to 1976‑77 (which means that earlier data may not be entirely consistent with data for 1976‑77 onwards).

Revisions to previously published data

Under the accrual GFS framework and generally under AAS, flows are recorded in the period in which they occurred. As a result, prior period outcomes may be revised for classification changes relating to information that could reasonably have been expected to be known in the past, is material in at least one of the affected periods, and can be reliably assigned to the relevant period(s).

Introduction of the headline cash balance data series

The 2013‑14 Mid‑Year Economic and Fiscal Outlook (MYEFO) introduces the headline cash balance data series for the Australian Government general government sector at Table D2. The headline cash balance provides an indication of the estimated call on financial markets by including net cash flows from investments in financial assets for policy purposes. Prior to 1999‑2000, these amounts were referred to as 'net advances'. Cash data for the headline cash balance data series has been prepared on a basis consistent with the underlying cash balance data series.

Introduction of the face value of Commonwealth Government Securities on issue data series

The 2013‑14 MYEFO introduces the historical series on the face value of Commonwealth Government Securities on issue at Table D6. Two series are presented, the first showing total Commonwealth Government Securities on issue, and the second showing total Commonwealth Government Securities on issue subject to the Treasurer's Direction under the Commonwealth Inscribed Stock Act 1911. These series are included to increase transparency over the level of Government debt on issue over time.

Deflating real spending growth by the Consumer Price Index

The 2013‑14 MYEFO, including the historical series, calculates real spending growth using the Consumer Price Index as the deflator. Previously the non‑farm GDP deflator was used and has therefore been shown in this appendix for comparative purposes. The non‑farm GDP deflator incorporates fluctuations in global commodity prices which are not relevant for Government expenditures.

Table D1: Australian Government general government sector receipts, payments, net Future Fund earnings and underlying cash balance(a)
 

Receipts(b)
 

Payments(c)  
  Net Future
Fund
earnings
  Underlying
cash
balance(d) 
 




$m




Per cent
of GDP
 




$m


Per cent
real
growth
(CPI)
Per cent
real
growth
(NFGDP
deflator)(f)




Per cent
of GDP
 




$m
 




$m




Per cent
of GDP
1970-71 8,290 20.5   7,389 na na 18.3   -   901 2.2
1971-72 9,135 20.5   8,249 4.1 4.7 18.5   -   886 2.0
1972-73 9,735 19.5   9,388 7.7 7.8 18.8   -   348 0.7
1973-74 12,228 20.3   11,078 4.2 3.6 18.4   -   1,150 1.9
1974-75 15,643 22.0   15,463 19.9 14.6 21.7   -   181 0.3
1975-76 18,727 22.5   20,225 15.7 13.5 24.3   -   -1,499 -1.8
1976-77 21,890 22.8   23,157 0.6 1.9 24.1   -   -1,266 -1.3
1977-78 24,019 22.9   26,057 2.7 3.3 24.8   -   -2,037 -1.9
1978-79 26,129 22.0   28,272 0.3 2.7 23.8   -   -2,142 -1.8
1979-80 30,321 22.5   31,642 1.5 2.1 23.5   -   -1,322 -1.0
1980-81 35,993 23.6   36,176 4.6 3.6 23.7   -   -184 -0.1
1981-82 41,499 23.6   41,151 2.9 0.5 23.4   -   348 0.2
1982-83 45,463 24.0   48,810 6.3 6.2 25.8   -   -3,348 -1.8
1983-84 49,981 23.4   56,990 9.4 9.6 26.7   -   -7,008 -3.3
1984-85 58,817 25.0   64,853 9.1 9.0 27.6   -   -6,037 -2.6
1985-86 66,206 25.4   71,328 1.5 3.4 27.3   -   -5,122 -2.0
1986-87 74,724 26.1   77,158 -1.1 0.5 26.9   -   -2,434 -0.8
1987-88 83,491 25.6   82,039 -0.9 -0.3 25.2   -   1,452 0.4
1988-89 90,748 24.6   85,326 -3.1 -4.3 23.1   -   5,421 1.5
1989-90 98,625 24.4   92,684 0.6 2.7 22.9   -   5,942 1.5
1990‑91 100,227 24.2   100,665 3.1 4.2 24.3   -   -438 -0.1
1991‑92 95,840 22.7   108,472 5.7 5.8 25.6   -   -12,631 -3.0
1992‑93 97,633 22.0   115,751 5.6 6.0 26.1   -   -18,118 -4.1
1993‑94 103,824 22.2   122,009 3.5 4.4 26.1   -   -18,185 -3.9
1994‑95 113,458 22.9   127,619 1.4 2.2 25.7   -   -14,160 -2.9
1995‑96 124,429 23.5   135,538 1.9 3.2 25.6   -   -11,109 -2.1
1996‑97 133,592 24.0   139,689 1.7 1.5 25.1   -   -6,099 -1.1
1997‑98 140,736 23.9   140,587 0.6 -0.7 23.9   -   149 0.0
1998‑99 152,063 24.5   148,175 4.1 4.9 23.9   -   3,889 0.6
1999‑00 166,199 25.1   153,192 1.0 0.8 23.2   -   13,007 2.0
2000‑01 182,996 25.9   177,123 9.1 10.8 25.1   -   5,872 0.8
2001‑02 187,588 24.9   188,655 3.5 4.1 25.0   -   -1,067 -0.1
2002‑03 204,613 25.5   197,243 1.4 1.4 24.6   -   7,370 0.9
2003‑04 217,775 25.3   209,785 3.9 2.6 24.3   -   7,990 0.9
2004‑05 235,984 25.6   222,407 3.5 2.0 24.1   -   13,577 1.5
2005‑06 255,943 25.6   240,136 4.6 2.6 24.1   51   15,757 1.6
2006‑07 272,637 25.1   253,321 2.5 0.5 23.3   2,127   17,190 1.6
2007‑08 294,917 25.0   271,843 3.8 2.7 23.1   3,319   19,754 1.7
2008‑09 292,600 23.2   316,046 12.7 10.4 25.1   3,566   -27,013 -2.1
2009‑10 284,662 22.0   336,900 4.2 5.5 26.0   2,256   -54,494 -4.2
2010‑11 302,024 21.5   346,102 -0.4 -3.1 24.6   3,385   -47,463 -3.4
2011‑12 329,874 22.2   371,032 4.8 5.2 25.0   2,203   -43,360 -2.9
2012‑13 351,052 23.1   367,204 -3.2 -0.7 24.1   2,682   -18,834 -1.2
2013‑14(e) 364,930 23.1   409,049 8.6 10.2 25.9   2,871   -46,989 -3.0
2014‑15(e) 382,743 23.5   413,696 -0.9 0.3 25.4   2,953   -33,907 -2.1
2015‑16(p) 409,084 24.0   430,029 1.4 2.2 25.2   3,138   -24,083 -1.4
2016‑17(p) 432,817 24.2   447,111 1.4 2.3 25.0   3,373   -17,668 -1.0

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Receipts are equal to cash receipts from operating activities and sales of non‑financial assets.

(c) Payments are equal to cash payments for operating activities, purchases of non‑financial assets and net acquisition of assets under finance leases.

(d) Underlying cash balance is equal to receipts less payments, less net Future Fund earnings. For the purposes of consistent comparison with years prior to 2005‑06, net Future Fund earnings should be added back to the underlying cash balance.

(e) Estimates.

(f) Real spending growth calculated using the Consumer Price Index as the deflator. Real spending growth using the non‑farm GDP deflator is included for comparative purposes.

(p) Projections.

Table D2: Australian Government general government sector net cash flows for investments in financial assets for policy purposes and headline cash balance(a)
 
 
Receipts(b)
 
 
Payments(b)
  Net cash flows
from investments in
financial assets for
policy purposes(c)
 


Headline cash balance(d)
 
$m
  
$m
  
$m
Per cent
of GDP
  
$m
Per cent
of GDP
1970-71 8,290   7,389   -851 -2.1   50 0.1
1971-72 9,135   8,249   -987 -2.2   -101 -0.2
1972-73 9,735   9,388   -977 -2.0   -629 -1.3
1973-74 12,228   11,078   -1,275 -2.1   -125 -0.2
1974-75 15,643   15,463   -2,648 -3.7   -2,467 -3.5
1975-76 18,727   20,225   -2,040 -2.4   -3,539 -4.2
1976-77 21,890   23,157   -1,530 -1.6   -2,796 -2.9
1977-78 24,019   26,057   -1,324 -1.3   -3,361 -3.2
1978-79 26,129   28,272   -1,074 -0.9   -3,216 -2.7
1979-80 30,321   31,642   -702 -0.5   -2,024 -1.5
1980-81 35,993   36,176   -962 -0.6   -1,146 -0.8
1981-82 41,499   41,151   -1,008 -0.6   -660 -0.4
1982-83 45,463   48,810   -1,363 -0.7   -4,711 -2.5
1983-84 49,981   56,990   -1,136 -0.5   -8,144 -3.8
1984-85 58,817   64,853   -922 -0.4   -6,959 -3.0
1985-86 66,206   71,328   -810 -0.3   -5,932 -2.3
1986-87 74,724   77,158   -545 -0.2   -2,979 -1.0
1987-88 83,491   82,039   657 0.2   2,109 0.6
1988-89 90,748   85,326   168 0.0   5,589 1.5
1989-90 98,625   92,684   1,217 0.3   7,159 1.8
1990‑91 100,227   100,665   1,563 0.4   1,125 0.3
1991‑92 95,840   108,472   2,156 0.5   -10,475 -2.5
1992‑93 97,633   115,751   2,471 0.6   -15,647 -3.5
1993‑94 103,824   122,009   3,447 0.7   -14,738 -3.2
1994‑95 113,458   127,619   1,546 0.3   -12,614 -2.5
1995‑96 124,429   135,538   5,188 1.0   -5,921 -1.1
1996‑97 133,592   139,689   7,241 1.3   1,142 0.2
1997‑98 140,736   140,587   15,154 2.6   15,303 2.6
1998‑99 152,063   148,175   6,948 1.1   10,837 1.7
1999‑00 166,199   153,192   9,500 1.4   22,507 3.4
2000‑01 182,996   177,123   5,673 0.8   11,545 1.6
2001‑02 187,588   188,655   3,422 0.5   2,355 0.3
2002‑03 204,613   197,243   -229 0.0   7,141 0.9
2003‑04 217,775   209,785   -452 -0.1   7,538 0.9
2004‑05 235,984   222,407   -1,139 -0.1   12,438 1.3
2005‑06 255,943   240,136   -1,647 -0.2   14,160 1.4
2006‑07 272,637   253,321   7,403 0.7   26,720 2.5
2007‑08 294,917   271,843   5,108 0.4   28,181 2.4
2008‑09 292,600   316,046   -7,889 -0.6   -31,336 -2.5
2009‑10 284,662   336,900   -4,278 -0.3   -56,516 -4.4
2010‑11 302,024   346,102   -7,028 -0.5   -51,106 -3.6
2011‑12 329,874   371,032   -5,866 -0.4   -47,023 -3.2
2012‑13 351,052   367,204   -4,802 -0.3   -20,954 -1.4
2013‑14(e) 364,930   409,049   -7,522 -0.5   -51,640 -3.3
2014‑15(e) 382,743   413,696   -11,484 -0.7   -42,437 -2.6
2015‑16(p) 409,084   430,029   -10,741 -0.6   -31,686 -1.9
2016‑17(p) 432,817   447,111   -11,481 -0.6   -25,776 -1.4

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Receipts and payments are identical to those in Table D1.

(c) A negative number reflects a cash outflow such as the purchase of an investment, while a positive number reflects a cash inflow such as the return or sale of an investment.

(d) Headline cash balance is equal to receipts less payments, plus net cash flows from investments in financial assets for policy purposes.

(e) Estimates.

(p) Projections.

Table D3: Australian Government general government sector taxation receipts, non‑taxation receipts and total receipts(a)
  Taxation receipts   Non-taxation receipts   Total receipts(b)
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
1970-71 7,193 17.8   1,097 2.7   8,290 20.5
1971-72 7,895 17.7   1,240 2.8   9,135 20.5
1972-73 8,411 16.9   1,324 2.7   9,735 19.5
1973-74 10,832 17.9   1,396 2.3   12,228 20.3
1974-75 14,141 19.9   1,502 2.1   15,643 22.0
1975-76 16,920 20.3   1,807 2.2   18,727 22.5
1976-77 19,714 20.5   2,176 2.3   21,890 22.8
1977-78 21,428 20.4   2,591 2.5   24,019 22.9
1978-79 23,409 19.7   2,720 2.3   26,129 22.0
1979-80 27,473 20.4   2,848 2.1   30,321 22.5
1980-81 32,641 21.4   3,352 2.2   35,993 23.6
1981-82 37,880 21.5   3,619 2.1   41,499 23.6
1982-83 41,025 21.7   4,438 2.3   45,463 24.0
1983-84 44,849 21.0   5,132 2.4   49,981 23.4
1984-85 52,970 22.5   5,847 2.5   58,817 25.0
1985-86 58,841 22.6   7,365 2.8   66,206 25.4
1986-87 66,467 23.2   8,257 2.9   74,724 26.1
1987-88 75,076 23.1   8,415 2.6   83,491 25.6
1988-89 83,452 22.6   7,296 2.0   90,748 24.6
1989-90 90,773 22.4   7,852 1.9   98,625 24.4
1990‑91 92,739 22.4   7,488 1.8   100,227 24.2
1991‑92 87,364 20.6   8,476 2.0   95,840 22.7
1992‑93 88,760 20.0   8,873 2.0   97,633 22.0
1993‑94 93,362 20.0   10,462 2.2   103,824 22.2
1994‑95 104,921 21.2   8,537 1.7   113,458 22.9
1995‑96 115,700 21.9   8,729 1.6   124,429 23.5
1996‑97 124,559 22.4   9,033 1.6   133,592 24.0
1997‑98 130,984 22.2   9,752 1.7   140,736 23.9
1998‑99 138,420 22.3   13,643 2.2   152,063 24.5
1999‑00 151,313 22.9   14,887 2.3   166,199 25.1
2000‑01 170,354 24.1   12,641 1.8   182,996 25.9
2001‑02 175,108 23.2   12,481 1.7   187,588 24.9
2002‑03 192,131 24.0   12,482 1.6   204,613 25.5
2003‑04 206,091 23.9   11,683 1.4   217,775 25.3
2004‑05 223,314 24.2   12,669 1.4   235,984 25.6
2005‑06 241,215 24.2   14,728 1.5   255,943 25.6
2006‑07 257,392 23.7   15,245 1.4   272,637 25.1
2007‑08 278,376 23.6   16,540 1.4   294,917 25.0
2008‑09 272,627 21.7   19,973 1.6   292,600 23.2
2009‑10 260,973 20.1   23,689 1.8   284,662 22.0
2010‑11 280,839 20.0   21,185 1.5   302,024 21.5
2011‑12 309,943 20.9   19,931 1.3   329,874 22.2
2012‑13 326,426 21.4   24,627 1.6   351,052 23.1
2013‑14(e) 343,480 21.8   21,451 1.4   364,930 23.1
2014‑15(e) 358,603 22.0   24,140 1.5   382,743 23.5
2015‑16(p) 384,439 22.5   24,645 1.4   409,084 24.0
2016‑17(p) 410,331 22.9   22,485 1.3   432,817 24.2

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Receipts are equal to cash receipts from operating activities and sales of non‑financial assets.

(e) Estimates.

(p) Projections.

Table D4: Australian Government general government sector (cash) receipts
  Actual   Estimates   Projections
  2012-13
$m
  2013-14
$m
2014-15
$m
  2015-16
$m
2016-17
$m
Individuals and other withholding taxes               
Gross income tax withholding 149,807   157,200 168,800   183,500 196,700
Gross other individuals 33,294   34,000 36,600   40,500 44,700
less: Refunds 26,801   27,200 28,000   29,400 30,700
Total individuals and other withholding tax 156,300   164,000 177,400   194,600 210,700
Fringe benefits tax 3,922   4,090 4,470   4,720 5,010
Company tax 66,911   69,000 70,500   73,700 77,100
Superannuation fund taxes 7,661   6,860 8,760   10,900 11,940
Minerals resource rent tax(a) 310   500 300   0 0
Petroleum resource rent tax 1,507   1,750 2,100   2,200 2,350
Income taxation receipts 236,610   246,200 263,530   286,120 307,100
Goods and services tax 48,596   50,248 52,948   56,039 59,209
Wine equalisation tax 725   740 780   820 870
Luxury car tax 434   400 380   410 430
Excise and customs duty              
Petrol 5,990   5,850 5,650   5,800 5,850
Diesel 8,594   8,990 9,180   9,280 9,490
Other fuel products(b) nfp   3,820 3,580   3,620 3,660
Tobacco(b) nfp   8,350 9,110   10,020 10,890
Beer 2,257   2,360 2,360   2,480 2,640
Spirits 1,931   1,990 2,090   2,220 2,330
Other alcoholic beverages(c) 944   970 990   1,040 1,100
Other customs duty              
Textiles, clothing and footwear 676   750 600   420 450
Passenger motor vehicles 892   930 920   920 940
Other imports 1,499   1,570 1,600   1,660 1,760
less: Refunds and drawbacks 354   260 260   260 260
Total excise and customs duty 33,554   35,320 35,820   37,200 38,850
Carbon pricing mechanism 3,631   7,180 1,695   0 0
Agricultural levies 463   459 470   460 464
Other taxes 2,412   2,933 2,980   3,390 3,409
Indirect taxation receipts 89,815   97,280 95,073   98,319 103,231
Taxation receipts 326,426   343,480 358,603   384,439 410,331
Sales of goods and services 9,071   8,626 8,442   8,637 8,733
Interest 3,561   3,591 3,544   3,885 3,960
Dividends 3,420   2,883 3,891   2,699 2,748
Other non-taxation receipts 8,575   6,350 8,263   9,424 7,044
Non-taxation receipts 24,627   21,451 24,140   24,645 22,485
Total receipts 351,052   364,930 382,743   409,084 432,817
Memorandum:              
Total excise 25,412   26,400 26,640   27,690 28,760
Total customs duty 8,143   8,920 9,180   9,510 10,090
Capital gains tax(d) 7,100   7,900 10,700   13,200 15,400
Medicare and DisabilityCare Australia levy(e) 9,788   9,950 10,380   14,035 15,000

(a) Net receipts from the minerals resource rent tax are expected to be $0.3 billion in 2013‑14 and $0.2 billion in 2014‑15 which represents the net receipts impact across different revenue heads. These include the offsetting reductions in company tax (through deductibility) and interactions with other taxes. The Government has announced the minerals resource rent tax will not apply beyond 30 June 2014.

(b) Due to taxpayer confidentiality, the value of receipts from these revenue heads cannot be disclosed for the 2012‑13 financial year.

(c) Other alcoholic beverages are those not exceeding 10 per cent by volume of alcohol (excluding beer, brandy, and wine).

(d) Capital gains tax is part of gross other individuals, company tax and superannuation fund taxes. The 2012‑13 reported figure is an estimate.

(e) The Medicare and DisabilityCare Australia levy liabilities are reported in the year in which the income tax liability is assessed.

Table D5: Australian Government general government sector net debt and net interest payments(a)
  Net debt(b)     Net interest payments(c)
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
1970-71 344 0.9   -189 -0.5
1971-72 -496 -1.1   -245 -0.6
1972-73 -790 -1.6   -252 -0.5
1973-74 -1,851 -3.1   -286 -0.5
1974-75 -1,901 -2.7   -242 -0.3
1975-76 -341 -0.4   -330 -0.4
1976-77 898 0.9   -62 -0.1
1977-78 2,896 2.8   4 0.0
1978-79 4,983 4.2   254 0.2
1979-80 6,244 4.6   440 0.3
1980-81 6,356 4.2   620 0.4
1981-82 5,919 3.4   680 0.4
1982-83 9,151 4.8   896 0.5
1983-84 16,015 7.5   1,621 0.8
1984-85 21,896 9.3   2,813 1.2
1985-86 26,889 10.3   3,952 1.5
1986-87 29,136 10.2   4,762 1.7
1987-88 27,344 8.4   4,503 1.4
1988-89 21,981 5.9   4,475 1.2
1989-90 16,123 4.0   4,549 1.1
1990‑91 16,915 4.1   3,636 0.9
1991‑92 31,041 7.3   3,810 0.9
1992‑93 55,218 12.4   3,986 0.9
1993‑94 70,223 15.0   5,628 1.2
1994‑95 83,492 16.8   7,292 1.5
1995‑96 95,831 18.1   8,861 1.7
1996‑97 96,281 17.3   9,489 1.7
1997‑98 82,935 14.1   8,279 1.4
1998‑99 72,065 11.6   8,649 1.4
1999‑00 53,869 8.1   7,514 1.1
2000‑01 42,719 6.1   6,195 0.9
2001‑02 38,180 5.1   5,352 0.7
2002‑03 29,047 3.6   3,758 0.5
2003‑04 22,639 2.6   3,040 0.4
2004‑05 10,741 1.2   2,502 0.3
2005‑06 -4,531 -0.5   2,303 0.2
2006‑07 -29,150 -2.7   228 0.0
2007‑08 -44,820 -3.8   -1,015 -0.1
2008‑09 -16,148 -1.3   -1,196 -0.1
2009‑10 42,283 3.3   2,386 0.2
2010‑11 84,551 6.0   4,608 0.3
2011‑12 147,334 9.9   6,609 0.4
2012‑13 152,982 10.0   8,285 0.5
2013‑14(e) 191,520 12.1   8,828 0.6
2014‑15(e) 231,122 14.2   10,617 0.7
2015‑16(p) 259,089 15.2   13,466 0.8
2016‑17(p) 280,490 15.7   12,824 0.7

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Net debt is equal to the sum of deposits held, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid and investments, loans and placements.

(c) Net interest payments are equal to the difference between interest paid and interest receipts.

(e) Estimates.

(p) Projections.

Table D6: Australian Government general government sector face value of Commonwealth Government Securities (CGS) on issue and interest paid
  Face value of CGS on issue(a)     
  Total CGS on issue(b)   Subject to Treasurer's direction(c)   Interest Paid(d)
  End of yea
r$m
Per cent
of GDP
  End of year
$m
Per cent
of GDP
   
$m
Per cent
of GDP
1970-71 10,887 27.0   - -   580 1.4
1971-72 11,490 25.8   - -   614 1.4
1972-73 12,217 24.5   - -   675 1.4
1973-74 12,809 21.2   - -   712 1.2
1974-75 14,785 20.8   - -   893 1.3
1975-76 17,940 21.5   - -   1,001 1.2
1976-77 20,845 21.7   - -   1,485 1.5
1977-78 23,957 22.8   - -   1,740 1.7
1978-79 28,120 23.7   - -   2,080 1.8
1979-80 29,321 21.8   - -   2,356 1.8
1980-81 30,189 19.8   - -   2,723 1.8
1981-82 31,060 17.7   - -   3,058 1.7
1982-83 37,071 19.6   - -   3,580 1.9
1983-84 45,437 21.3   - -   4,558 2.1
1984-85 54,420 23.1   - -   5,952 2.5
1985-86 63,089 24.2   - -   7,394 2.8
1986-87 67,172 23.4   - -   8,339 2.9
1987-88 62,794 19.3   - -   8,139 2.5
1988-89 56,854 15.4   - -   8,222 2.2
1989-90 48,399 12.0   - -   8,064 2.0
1990‑91 48,723 11.7   - -   6,994 1.7
1991‑92 58,826 13.9   - -   6,819 1.6
1992‑93 76,509 17.2   - -   6,487 1.5
1993‑94 90,889 19.5   - -   7,709 1.7
1994‑95 105,466 21.3   - -   9,144 1.8
1995‑96 110,166 20.8   - -   10,325 2.0
1996‑97 111,067 19.9   - -   10,653 1.9
1997‑98 93,664 15.9   - -   9,453 1.6
1998‑99 85,331 13.8   - -   9,299 1.5
1999‑00 75,536 11.4   - -   8,509 1.3
2000‑01 66,403 9.4   - -   7,335 1.0
2001‑02 63,004 8.4   - -   6,270 0.8
2002‑03 57,435 7.2   - -   4,740 0.6
2003‑04 54,750 6.4   - -   4,096 0.5
2004‑05 55,151 6.0   - -   3,902 0.4
2005‑06 54,070 5.4   - -   4,628 0.5
2006‑07 53,264 4.9   - -   3,959 0.4
2007‑08 55,442 4.7   - -   3,754 0.3
2008‑09 101,147 8.0   95,103 7.6   3,970 0.3
2009‑10 147,133 11.3   141,806 10.9   6,411 0.5
2010‑11 191,292 13.6   186,704 13.3   9,551 0.7
2011‑12 233,976 15.7   229,389 15.4   10,875 0.7
2012‑13 257,378 16.9   252,791 16.6   11,846 0.8
2013‑14(e) 310,000 19.7   310,000 19.7   12,419 0.8
2014‑15(e) 360,000 22.1   360,000 22.1   14,161 0.9
2015‑16(p) 400,000 23.4   400,000 23.4   17,350 1.0
2016‑17(p) 440,000 24.6   430,000 24.0   16,784 0.9

(a) From 2013‑14 onwards, data for CGS on issue are projections and are rounded to the nearest $10 billion.

(b) Total CGS on issue includes CGS held on behalf of the States and the Northern Territory, but excludes Commonwealth holdings of CGS.

(c) The face value of CGS subject to the Treasurer's Direction excludes the stock and securities outlined in subsection 51JA(2A) of the Commonwealth Inscribed Stock Act 1911. These are the same stock and securities that were excluded from the previous legislative debt limit. CGS on issue subject to the Treasurer's Direction are not available prior to 2008‑09 because the limit was first introduced in July 2008.

(d) Interest paid consists of all cash interest payments of the general government sector, including those relating to CGS on issue.

(e) Estimates.

(p) Projections.

Table D7: Australian Government general government sector revenue, expenses, net capital investment and fiscal balance(a)
  Revenue    Expenses   Net capital investment   Fiscal balance(b)
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
 
$m
Per cent
of GDP
1996‑97 141,688 25.4   145,821 26.2   90 0.0   -4,223 -0.8
1997‑98 146,820 24.9   148,652 25.2   147 0.0   -1,979 -0.3
1998‑99 152,106 24.5   146,772 23.7   1,433 0.2   3,901 0.6
1999‑00 167,304 25.3   155,558 23.5   -69 0.0   11,815 1.8
2000‑01 186,110 26.4   180,094 25.5   8 0.0   6,007 0.9
2001‑02 190,488 25.3   193,041 25.6   382 0.1   -2,935 -0.4
2002‑03 206,923 25.8   201,259 25.1   287 0.0   5,377 0.7
2003‑04 222,168 25.8   215,361 25.0   660 0.1   6,148 0.7
2004‑05 242,507 26.3   229,245 24.8   1,034 0.1   12,228 1.3
2005‑06 261,238 26.2   242,334 24.3   2,498 0.3   16,406 1.6
2006‑07 278,411 25.6   259,276 23.8   2,333 0.2   16,801 1.5
2007‑08 303,729 25.8   280,188 23.8   2,593 0.2   20,948 1.8
2008‑09 298,933 23.8   324,612 25.8   4,064 0.3   -29,743 -2.4
2009‑10 292,767 22.6   340,208 26.2   6,433 0.5   -53,875 -4.2
2010‑11 309,890 22.0   356,353 25.3   5,297 0.4   -51,760 -3.7
2011‑12 338,109 22.8   378,005 25.4   4,850 0.3   -44,746 -3.0
2012‑13 360,160 23.7   382,644 25.1   987 0.1   -23,472 -1.5
2013‑14(e) 373,922 23.7   412,060 26.1   3,706 0.2   -41,843 -2.7
2014‑15(e) 387,882 23.8   417,758 25.6   1,628 0.1   -31,504 -1.9
2015‑16(p) 417,423 24.4   436,019 25.5   180 0.0   -18,776 -1.1
2016‑17(p) 445,032 24.9   457,110 25.6   2,378 0.1   -14,456 -0.8

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Fiscal balance is equal to revenue less expenses less net capital investment.

(e) Estimates.

(p) Projections.

Table D8: Australian Government general government sector net worth and net financial worth(a)
  Net worth(b)   Net financial worth(c)
  
 $m
Per cent
of GDP
    
$m
Per cent
of GDP
1999‑00 -7,046 -1.1   -67,036 -10.1
2000‑01 -6,618 -0.9   -71,876 -10.2
2001‑02 -11,655 -1.5   -78,032 -10.4
2002‑03 -15,330 -1.9   -82,931 -10.4
2003‑04 -1,152 -0.1   -72,389 -8.4
2004‑05 14,556 1.6   -58,882 -6.4
2005‑06 17,971 1.8   -59,763 -6.0
2006‑07 46,351 4.3   -35,696 -3.3
2007‑08 70,859 6.0   -14,690 -1.2
2008‑09 19,427 1.5   -71,490 -5.7
2009‑10 -45,938 -3.5   -144,485 -11.1
2010‑11 -95,386 -6.8   -198,787 -14.1
2011‑12 -247,208 -16.6   -355,834 -23.9
2012‑13 -202,650 -13.3   -312,724 -20.5
2013‑14(e) -176,649 -11.2   -289,693 -18.4
2014‑15(e) -207,043 -12.7   -323,248 -19.8
2015‑16(p) -226,049 -13.2   -344,378 -20.2
2016‑17(p) -241,162 -13.5   -361,390 -20.2

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Net worth is equal to total assets less total liabilities.

(c) Net financial worth is equal to financial assets less total liabilities.

(e) Estimates.

(p) Projections.

Table D9: Australian Government general government sector accrual taxation revenue, non‑taxation revenue and total revenue(a)
  Taxation revenue   Non-taxation revenue   Total revenue
  
 $m
Per cent
of GDP
  
 $m
Per cent
of GDP
  
 $m
Per cent
of GDP
1999‑00 153,408 23.2   13,896 2.1   167,304 25.3
2000‑01 175,881 24.9   10,228 1.4   186,110 26.4
2001‑02 178,210 23.6   12,278 1.6   190,488 25.3
2002‑03 195,203 24.4   11,720 1.5   206,923 25.8
2003‑04 209,959 24.4   12,209 1.4   222,168 25.8
2004‑05 229,943 24.9   12,564 1.4   242,507 26.3
2005‑06 245,716 24.6   15,522 1.6   261,238 26.2
2006‑07 262,511 24.1   15,900 1.5   278,411 25.6
2007‑08 286,229 24.3   17,500 1.5   303,729 25.8
2008‑09 278,653 22.1   20,280 1.6   298,933 23.8
2009‑10 268,000 20.7   24,767 1.9   292,767 22.6
2010‑11 289,005 20.5   20,885 1.5   309,890 22.0
2011‑12 316,779 21.3   21,330 1.4   338,109 22.8
2012‑13 337,323 22.2   22,836 1.5   360,160 23.7
2013‑14(e) 351,434 22.3   22,488 1.4   373,922 23.7
2014‑15(e) 366,356 22.5   21,525 1.3   387,882 23.8
2015‑16(p) 394,705 23.1   22,718 1.3   417,423 24.4
2016‑17(p) 421,066 23.5   23,966 1.3   445,032 24.9

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(e) Estimates.

(p) Projections.

Table D10: Australian Government general government sector (accrual) revenue
  Actual   Estimates   Projections
  2012-13
$m
  2013-14
$m
2014-15
$m
  2015-16
$m
2016-17
$m
Individuals and other withholding taxes              
Gross income tax withholding 151,069   158,510 170,210   185,010 198,290
Gross other individuals 36,283   36,650 39,500   43,730 48,230
less: Refunds 26,801   27,200 28,000   29,400 30,700
Total individuals and other withholding tax 160,551   167,960 181,710   199,340 215,820
Fringe benefits tax 3,971   4,140 4,550   4,800 5,090
Company tax 68,208   70,400 72,330   75,690 79,130
Superannuation fund taxes 7,581   6,990 8,930   11,100 12,180
Minerals resource rent tax(a) 310   500 300   0 0
Petroleum resource rent tax 1,618   1,900 2,100   2,230 2,390
Income taxation revenue 242,238   251,890 269,920   293,160 314,610
Goods and services tax 50,313   52,680 55,710   58,900 62,070
Wine equalisation tax 716   750 790   830 880
Luxury car tax 432   400 380   410 430
Excise and customs duty              
Petrol 6,080   5,740 5,670   5,820 5,850
Diesel 8,721   8,820 9,205   9,310 9,490
Other fuel products(b) nfp   3,730 3,590   3,630 3,660
Tobacco(b) nfp   8,260 9,130   10,040 10,890
Beer 2,287   2,320 2,370   2,490 2,640
Spirits 1,945   1,990 2,090   2,220 2,330
Other alcoholic beverages(c) 958   970 990   1,040 1,100
Other customs duty              
Textiles, clothing and footwear 676   750 600   420 450
Passenger motor vehicles 892   930 920   920 940
Other imports 1,500   1,580 1,600   1,660 1,760
less: Refunds and drawbacks 354   260 260   260 260
Total excise and customs duty 33,883   34,830 35,905   37,290 38,850
Carbon pricing mechanism 6,535   7,340 0   0 0
Agricultural levies 476   459 470   460 464
Other taxes 2,730   3,086 3,182   3,656 3,762
Indirect taxation revenue 95,085   99,545 96,437   101,545 106,456
Taxation revenue 337,323   351,434 366,356   394,705 421,066
Sales of goods and services 8,886   8,680 8,496   8,687 8,788
Interest 3,646   3,730 4,060   4,364 4,680
Dividends 3,079   3,792 2,448   2,657 3,352
Other non-taxation revenue 7,226   6,286 6,522   7,010 7,146
Non-taxation revenue 22,836   22,488 21,525   22,718 23,966
Total revenue 360,160   373,922 387,882   417,423 445,032
Memorandum:              
Total excise 25,710   25,900 26,725   27,780 28,760
Total customs duty 8,172   8,930 9,180   9,510 10,090
Capital gains tax(d) 7,100   7,900 10,700   13,200 15,400
Medicare and DisabilityCare Australia levy(e) 9,788   9,950 10,380   14,035 15,000

(a) Net revenue from the minerals resource rent tax is expected to be $0.3 billion in 2013‑14 and $0.2 billion in 2014‑15 which represents the net revenue impact across different revenue heads. These include the offsetting reductions in company tax (through deductibility) and interactions with other taxes. The Government has announced the minerals resource rent tax will not apply beyond 30 June 2014.

(b) Due to taxpayer confidentiality, the value of revenue from these revenue heads cannot be disclosed for the 2012‑13 financial year.

(c) Other alcoholic beverages are those not exceeding 10 per cent by volume of alcohol (excluding beer, brandy and wine).

(d) Capital gains tax is part of gross other individuals, company tax and superannuation fund taxes. The 2012‑13 reported figure is an estimate.

(e) The Medicare and DisabilityCare Australia levy liabilities are reported in the year in which the income tax liability is assessed.

Table D11: Australian Government cash receipts, payments and surplus by institutional sector ($m)(a)
  General government   Public non-financial corporations   Non-financial public sector
 
Receipts(b)

Payments(c)
Underlying cash
balance(d)
 
Receipts(b)

Payments(c)

Cash surplus(d)
 
Receipts(b)

Payments(c)
Underlying cash
balance(d)
1988-89 90,748 85,326 5,421   4,177 6,035 257   93,923 90,312 5,678
1989-90 98,625 92,684 5,942   3,926 11,322 -5,261   101,495 102,883 681
1990‑91 100,227 100,665 -438   4,804 9,351 -2,139   103,837 108,808 -2,577
1991‑92 95,840 108,472 -12,631   3,899 7,713 101   97,937 114,369 -12,530
1992‑93 97,633 115,751 -18,118   4,385 7,819 -196   100,512 122,042 -18,314
1993‑94 103,824 122,009 -18,185   5,178 6,476 1,482   106,747 126,214 -16,703
1994‑95 113,458 127,619 -14,160   5,262 7,318 1,956   116,751 132,965 -12,204
1995‑96 124,429 135,538 -11,109   4,927 8,190 -527   126,593 140,963 -11,636
1996‑97 133,592 139,689 -6,099   4,782 7,373 473   135,259 143,948 -5,626
1997‑98 140,736 140,587 149   6,238 7,923 1,119   144,517 145,985 1,268
1998‑99 152,063 148,175 3,889   na na -353   na na 3,536
1999‑00 166,199 153,192 13,007   na na -2,594   na na 10,413
2000‑01 182,996 177,123 5,872   na na 391   na na 6,264
2001‑02 187,588 188,655 -1,067   na na 1,210   na na 143
2002‑03 204,613 197,243 7,370   27,386 26,105 1,280   na na 8,650
2003‑04 217,775 209,785 7,990   27,718 26,142 1,575   238,236 228,669 9,564
2004‑05 235,984 222,407 13,577   29,621 28,071 1,550   257,946 242,818 15,128
2005‑06 255,943 240,136 15,757   30,875 31,874 -999   278,254 263,445 14,759
2006‑07 272,637 253,321 17,190   16,882 18,641 -1,759   285,336 267,778 15,431
2007‑08 294,917 271,843 19,754   7,758 8,232 -473   300,503 277,903 19,281
2008‑09 292,600 316,046 -27,013   7,987 8,960 -973   297,421 321,841 -27,986
2009‑10 284,662 336,900 -54,494   8,419 9,341 -922   290,681 343,841 -55,416
2010‑11 302,024 346,102 -47,463   8,558 9,733 -1,175   308,258 353,511 -48,638
2011‑12 329,874 371,032 -43,360   8,845 10,847 -2,002   336,122 379,282 -45,362
2012‑13 351,052 367,204 -18,834   9,766 14,135 -4,369   358,088 378,609 -23,203
2013‑14(e) 364,930 409,049 -46,989   11,196 14,837 -3,641   374,393 422,153 -50,630
2014‑15(e) 382,743 413,696 -33,907   na na na   na na na
2015‑16(p) 409,084 430,029 -24,083   na na na   na na na
2016‑17(p) 432,817 447,111 -17,668   na na na   na na na

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Receipts are equal to receipts from operating activities and sales of non‑financial assets.

(c) Payments are equal to payments for operating activities, purchases of non‑financial assets and net acquisition of assets under finance leases.

(d) These items exclude net Future Fund earnings from 2005‑06 onwards. Net Future Fund earnings are shown in Table D1.

(e) Estimates.

(p) Projections.

na Data not available.

Table D12: Australian Government accrual revenue, expenses and fiscal balance by institutional sector ($m)(a)
  General government   Public non-financial corporations   Non-financial public sector
 
Revenue

Expenses

balance(b)
 
Revenue

Expenses
Fiscal
balance(b)
 
Revenue

Expenses
Fiscal
balance(b)
1996‑97 141,688 145,821 -4,223   27,431 26,015 -331   na na -4,554
1997‑98 146,820 148,652 -1,979   29,618 26,999 2,360   na na 387
1998‑99 152,106 146,772 3,901   27,687 26,088 -816   175,891 168,958 3,085
1999‑00 167,304 155,558 11,815   25,485 23,542 1,062   188,841 175,152 11,721
2000‑01 186,110 180,094 6,007   25,869 24,762 -826   207,372 200,250 5,181
2001‑02 190,488 193,041 -2,935   26,638 25,341 793   212,518 213,774 -2,142
2002‑03 206,923 201,259 5,377   24,339 22,916 1,975   226,135 219,089 7,311
2003‑04 222,168 215,361 6,148   25,449 23,444 2,143   241,873 233,060 8,291
2004‑05 242,507 229,245 12,228   26,965 25,191 1,473   263,587 248,552 13,700
2005‑06 261,238 242,334 16,406   28,143 29,531 -2,442   282,597 265,080 13,964
2006‑07 278,411 259,276 16,801   15,443 16,360 -1,763   290,067 271,850 15,038
2007‑08 303,729 280,188 20,948   6,854 6,686 -584   309,215 285,506 20,364
2008‑09 298,933 324,612 -29,743   6,998 7,576 -1,495   303,733 329,991 -31,238
2009‑10 292,767 340,208 -53,875   7,288 7,297 -1,079   298,412 345,863 -54,954
2010‑11 309,890 356,353 -51,760   7,563 7,787 -1,446   315,688 362,375 -53,205
2011‑12 338,109 378,005 -44,746   8,046 8,238 -2,158   344,507 384,595 -46,904
2012‑13 360,160 382,644 -23,472   8,863 9,415 -4,189   367,306 390,342 -27,661
2013‑14(e) 373,922 412,060 -41,843   9,546 11,379 -4,690   381,830 421,800 -46,533
2014‑15(e) 387,882 417,758 -31,504   na na na   na na na
2015‑16(p) 417,423 436,019 -18,776   na na na   na na na
2016‑17(p) 445,032 457,110 -14,456   na na na   na na na

(a) Data have been revised in the 2013‑14 MYEFO to improve accuracy and comparability through time.

(b) Fiscal balance is equal to revenue less expenses less net capital investment. Net capital investment is not shown in this table.

(e) Estimates.

(p) Projections.

na Data not available.


1 Prior to the 2008‑09 Budget, cash data calculated under the cash accounting framework was used up to and including 1998‑99. In the 2008‑09 Budget, cash data prior to 1998‑99 have been replaced by ABS data derived from the accrual framework.

Note: Where possible, Budget documents are available in HTML and for downloading in Portable Document Format(PDF). If you require further information on any of the tables or charts on this website, please contact The Treasury.