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Australian Government Coat of Arms

Budget | 2014-15

Budget 2014-15
Australian Government Coat of Arms, Budget 2014-15

Budget 2014-15

Federal Financial Relations
Budget Paper No. 3

Circulated by

The Honourable J. B. Hockey MP
Treasurer of the Commonwealth of Australia
Senator the Honourable Mathias Cormann
Minister for Finance of the Commonwealth of Australia

For the information of honourable members
on the occasion of the Budget 2014‑15

13 May 2014

© Commonwealth of Australia 2014

ISBN 978‑0‑642‑74976‑5

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This Budget Paper presents information on the Commonwealth's financial relations with State, Territory and local governments. This includes an overview of major Australian Government reforms and new developments, as well as information on payments to the States and analysis of fiscal developments in the public sector.


  1. The following definitions are used in this Budget Paper:
    • Budget year refers to 2014‑15, while the forward years refer to 2015‑16, 2016‑17 and 2017‑18; and
    • one billion is equal to one thousand million.
  2. Figures in tables and the text have generally been rounded. Discrepancies in tables between totals and sums of components reflect rounding unless otherwise noted.
    • estimates of $100,000 and over are generally rounded to the nearest tenth of a million;
    • estimates midway between rounding points are rounded up; and
    • percentage changes in tables are based on the underlying unrounded amounts.
  3. Tables use the following notations:
    not applicable
    millions of dollars
    billions of dollars
    not for publication
    not zero, but rounded to zero
    allocation not yet determined
  4. This Budget Paper uses the following conventions.
    • The Australian Capital Territory and the Northern Territory of Australia are referred to as 'the Territories'.
    • References to the 'States' or 'each State' include the State governments and Territory governments. The State and local government sector is denoted as the 'State/local sector'.
    • References to the 'State/local sector' include the Territory governments unless otherwise stated.
    • Local governments are instrumentalities of State governments. Consequently, payments made to the State government sector include payments made to the local government sector unless otherwise specified.
    • The following abbreviations are used, where appropriate:
      New South Wales
      Western Australia
      South Australia
      Australian Capital Territory
      Northern Territory
      Goods and services tax
  5. The term 'Commonwealth' refers to the Commonwealth of Australia. The term is used when referring to the legal entity of the Commonwealth of Australia.
  6. The term 'Australian Government' is used when referring to the Government of, and the decisions and activities made by the Government on behalf of, the Commonwealth of Australia.

Budget Paper No. 3, Federal Financial Relations 2014‑15, is one of a series of Budget Papers that provides information to supplement the Budget Speech. A full list of the series is printed on the inside cover of this paper. Appendix B: Total Payments to the States by Government Finance Statistics (GFS) Function; Appendix C: Supplementary Tables; and Appendix D: Debt Transactions of this paper are only available online at: