This statement contains details of the estimates of Australian Government revenue.

The Australian Government is providing further cuts to personal income tax of $21.7 billion over 4 years and will abolish the superannuation surcharge from 1 July 2005.

The revenue estimates for 2005-06 have been revised up since the Mid-Year Economic and Fiscal Outlook 2004-05, reflecting a stronger outlook for employment, company profits and the incomes of small unincorporated businesses and personal investors. As a result of actual revenues exceeding forecasts over recent years, methodology changes to the forecasts have been made to improve accuracy.

Information about GST revenue is provided in Budget Paper No. 3, Federal Financial Relations 2005-06.