Australian Government, 2012‑13 Budget

Statement 5: Revenue

While Government receipts are recovering from the global financial crisis trough, their growth is slower than previously expected.

Owing to economic circumstances and other factors (that is, abstracting from policy measures), tax receipts excluding GST have been revised down from the 2011‑12 Mid‑Year Economic and Fiscal Outlook (MYEFO) by $3.8 billion in 2011‑12 and $16.5 billion over the four years to 2014‑15. This has been partly offset by policy measures.

Total receipts are expected to grow by 11.8 per cent in 2012‑13. This represents a downward revision since the 2011‑12 MYEFO of $5.8 billion in 2012‑13 and $18.7 billion over the four years to 2014‑15.

It is expected that tax receipts as a share of GDP will remain well below pre‑global financial crisis levels over the entire forward estimates period. Structural factors are acting to constrain the tax‑to‑GDP ratio beyond the forecast period.

If responds slowly or you are having trouble downloading a document, try one of the Budget Website Mirrors

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.