Total accrual revenue in 2004-05 of $206.2 billion was 1.8 per cent higher than expected at the 2005-06 Budget. The variation reflects:
- company taxation accrual revenue was around $2.5 billion higher than expected, primarily owing to stronger income growth and profitability in the June quarter 2005;
- other individuals taxation accrual revenue was $363 million higher than expected, primarily owing to the lagged effect of strong growth in investment income in 2003-04; and
- non-taxation accrual revenue was $500 million higher than expected.
Table 2: Australian Government general government sector revenue
- Includes Medicare levy revenue of $6,105 million in 2004-05.
- Consistent with GFS reporting standards, excludes fringe benefits tax collected from Australian Government agencies ($387 million in 2004-05).