Australian Government, 2012‑13 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) 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 1998‑1999 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 Equivalents to International Financial Reporting Standards (AEIFRS). Prior to 2005‑06, underlying GFS data are based on data provided by agencies in accordance with Australian Accounting Standards (AAS);
  • most recent accounting classification changes that require revisions to the historical series have been back‑cast (where applicable) to 1998‑1999, ensuring that data are consistent across the accrual period from 1998‑1999 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).

Revisions since the 2012‑13 Budget

The 2012‑13 Mid‑Year Economic and Fiscal Outlook (MYEFO) includes revisions to the historical series to reflect the change in the calculation of the underlying cash balance to exclude net earnings of the Future Fund, as opposed to gross earnings. This approach better reflects the operations of the Future Fund, by ensuring that only net earnings of the Future Fund are recognised as being available for re‑investment by the Fund and creates greater symmetry between the treatment of Future Fund earnings (receipts) and costs (payments). This is consistent with the Future Fund Act 2006, which requires the Future Fund to meet all operating costs from its earnings and that all earnings are required to be reinvested to meet future superannuation payments.

As a result of this change in budget treatment, the historical series have been revised to account for Future Fund net earnings in the underlying cash balance.

Deflating real spending growth by the Consumer Price Index

The 2012‑13 MYEFO, including the historical series, calculates real spending growth using the Consumer Price Index (CPI) as the deflator. This is also the benchmark against which the Government's fiscal strategy is based. Prior to the 2008‑09 Budget the non‑farm GDP (NFGDP) deflator was used and has therefore been shown in this statement for comparative purposes.

The use of the CPI, rather than the non‑farm GDP deflator, provides a more accurate depiction of real government spending growth, especially in the current economic climate. The non‑farm GDP deflator incorporates fluctuations in global commodity prices which are not relevant for Government expenditures. Therefore, deflating government spending by the non‑farm GDP deflator distorts trends in real spending growth.

Table D1: Australian Government general government sector receipts, payments 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 20.6   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 19.6   9,388 7.7 7.8 18.9   -   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 14.5 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 2.8 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 9.7 26.7   -   -7,008 -3.3
1984-85 58,817 25.0   64,853 9.1 8.4 27.5   -   -6,037 -2.6
1985-86 66,206 25.4   71,328 1.5 3.4 27.4   -   -5,122 -2.0
1986-87 74,724 26.2   77,158 -1.1 0.8 27.0   -   -2,434 -0.9
1987-88 83,491 25.7   82,039 -0.9 -0.3 25.3   -   1,452 0.4
1988-89 90,748 24.7   85,326 -3.1 -4.3 23.2   -   5,421 1.5
1989-90 98,625 24.4   92,684 0.6 1.6 22.9   -   5,942 1.5
1990-91 100,227 24.1   100,665 3.1 3.8 24.2   -   -438 -0.1
1991-92 95,840 22.6   108,472 5.7 6.0 25.6   -   -12,631 -3.0
1992-93 97,633 22.0   115,751 5.6 6.0 26.0   -   -18,118 -4.1
1993-94 103,824 22.2   122,009 3.5 4.3 26.1   -   -18,185 -3.9
1994-95 113,458 22.9   127,619 1.4 2.6 25.7   -   -14,160 -2.9
1995-96 124,429 23.5   135,538 1.9 3.3 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 -0.6 23.9   -   149 0.0
1998-99 152,063 24.5   148,175 4.1 4.7 23.8   -   3,889 0.6
1999-00 166,199 25.1   153,192 1.0 0.8 23.1   -   13,007 2.0
2000-01 182,996 25.9   177,123 9.1 10.7 25.1   -   5,872 0.8
2001-02 187,588 24.8   188,655 3.5 4.2 25.0   -   -1,067 -0.1
2002-03 204,613 25.5   197,243 1.4 1.6 24.6   -   7,370 0.9
2003-04 217,775 25.3   209,785 3.9 2.9 24.4   -   7,990 0.9
2004-05 235,984 25.6   222,407 3.5 1.9 24.2   -   13,577 1.5
2005-06 255,943 25.7   240,136 4.6 2.8 24.1   51   15,757 1.6
2006-07 272,637 25.2   253,321 2.5 0.6 23.4   2,127   17,190 1.6
2007-08 294,917 25.1   271,843 3.8 2.6 23.1   3,319   19,754 1.7
2008-09 292,600 23.4   316,046 12.7 10.3 25.2   3,566   -27,013 -2.2
2009-10 284,662 22.0   336,900 4.2 5.6 26.0   2,256   -54,494 -4.2
2010-11 302,024 21.6   346,102 -0.4 -3.1 24.7   3,385   -47,463 -3.4
2011-12 329,874 22.5   371,032 4.8 5.4 25.3   2,203   -43,360 -3.0
2012-13(e) 367,041 24.0   363,246 -4.4 -3.0 23.8   2,718   1,077 0.1
2013-14(e) 392,595 24.3   387,760 4.4 4.2 24.0   2,670   2,165 0.1
2014-15(p) 410,042 24.1   403,890 1.6 1.8 23.8   2,828   3,325 0.2
2015-16(p) 434,625 24.3   425,196 2.7 2.9 23.7   3,021   6,408 0.4

(a) Data have been revised in the 2012‑13 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) 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 using the Consumer Price Index as the deflator is the benchmark against which the Government's fiscal strategy has been based since it was introduced. Real spending growth using the non‑farm GDP deflator is included for comparative purposes only.

(p) Projections.

Table D2: 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 20.6
1971-72 7,895 17.8   1,240 2.8   9,135 20.5
1972-73 8,411 16.9   1,324 2.7   9,735 19.6
1973-74 10,832 18.0   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 21.6   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 23.3   8,257 2.9   74,724 26.2
1987-88 75,076 23.1   8,415 2.6   83,491 25.7
1988-89 83,452 22.7   7,296 2.0   90,748 24.7
1989-90 90,773 22.4   7,852 1.9   98,625 24.4
1990-91 92,739 22.3   7,488 1.8   100,227 24.1
1991-92 87,364 20.6   8,476 2.0   95,840 22.6
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 21.1   8,537 1.7   113,458 22.9
1995-96 115,700 21.8   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 2.2   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 24.8
2002-03 192,131 24.0   12,482 1.6   204,613 25.5
2003-04 206,091 24.0   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 25.7
2006-07 257,392 23.8   15,245 1.4   272,637 25.2
2007-08 278,376 23.7   16,540 1.4   294,917 25.1
2008-09 272,627 21.8   19,973 1.6   292,600 23.4
2009-10 260,973 20.2   23,689 1.8   284,662 22.0
2010-11 280,839 20.1   21,185 1.5   302,024 21.6
2011-12 309,943 21.1   19,931 1.4   329,874 22.5
2012-13(e) 339,209 22.2   27,832 1.8   367,041 24.0
2013-14(e) 371,393 23.0   21,201 1.3   392,595 24.3
2014-15(p) 389,236 22.9   20,806 1.2   410,042 24.1
2015-16(p) 411,538 23.0   23,086 1.3   434,625 24.3

(a) Data have been revised in the 2012‑13 MYEFO to improve accuracy and comparability through time.

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

(e) Estimates.

(p) Projections.

Table D3: Australian Government general government sector (cash) receipts
  Actual   Estimates   Projections
  2011-12
$m
  2012-13
$m
2013-14
$m
  2014-15
$m
2015-16
$m
Individuals' and other withholding taxes              
Gross income tax withholding 142,770   151,300 163,900   174,800 185,600
Gross other individuals 31,141   35,000 37,300   41,000 44,700
less: Refunds 25,537   26,500 26,700   28,800 30,700
Total individuals' and other withholding taxation 148,373   159,800 174,500   187,000 199,600
Fringe benefits tax 3,731   3,970 4,450   4,920 5,130
Company tax 66,584   71,170 78,680   78,540 81,580
Superannuation funds 7,562   8,050 9,050   11,010 12,950
Resource rent taxes(a) 1,463   5,400 6,400   5,630 6,620
Income taxation receipts 227,714   248,390 273,080   287,100 305,880
Sales taxes              
Goods and services tax 45,861   48,432 51,189   53,900 56,611
Wine equalisation tax 708   710 720   760 810
Luxury car tax 435   450 460   480 520
Total sales taxes 47,004   49,592 52,369   55,140 57,941
Excise duty               
Petrol 6,036   6,000 5,950   5,850 5,950
Diesel 8,231   8,700 9,300   9,300 9,500
Beer 1,938   2,070 2,180   2,260 2,390
Tobacco 5,449   5,200 4,800   4,750 4,870
Other excisable products 3,891   4,500 4,750   5,000 5,240
Of which: Other excisable beverages(b) 909   930 990   1,000 1,060
Total excise duty receipts 25,545   26,470 26,980   27,160 27,950
Customs duty              
Textiles, clothing and footwear 655   700 720   580 620
Passenger motor vehicles 805   920 960   1,010 1,070
Excise-like goods 4,307   4,850 5,850   5,970 6,180
Other imports 1,440   1,530 1,670   1,770 1,900
less: Refunds and drawbacks 212   200 200   200 200
Total customs duty receipts 6,996   7,800 9,000   9,130 9,570
Carbon pricing mechanism -   4,020 6,640   7,340 6,750
Other indirect taxation              
Agricultural levies 421   440 436   443 449
Other taxes 2,263   2,497 2,888   2,923 2,999
Total other indirect taxation receipts 2,684   2,937 3,324   3,366 3,447
Indirect taxation receipts 82,229   90,819 98,313   102,136 105,658
Taxation receipts 309,943   339,209 371,393   389,236 411,538
Sales of goods and services 7,778   8,818 8,758   8,503 8,854
Interest received 4,267   4,390 4,486   4,414 4,756
Dividends 1,789   3,268 2,004   2,164 2,288
Other non-taxation receipts 6,098   11,356 5,954   5,726 7,188
Non-taxation receipts(c) 19,931   27,832 21,201   20,806 23,086
Total receipts(c) 329,874   367,041 392,595   410,042 434,625
Memorandum:              
Capital gains tax(d) 6,400   8,400 11,000   13,800 16,100
Medicare levy receipts 9,119   9,700 10,390   11,010 11,580

(a) Resource rent taxes include PRRT and gross receipts from the MRRT. Net receipts from the MRRT are expected to be $2.0 billion in 2012‑13, $2.4 billion in 2013‑14, $2.1 billion in 2014‑15 and $2.6 billion in 2015‑16, which represent the net impact on receipts across several different heads of revenue. These include the offsetting reductions in company tax (through deductibility) and interactions with other taxes.

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

(c) Includes expected Future Fund earnings.

(d) Capital gains tax is part of other individuals, companies and superannuation funds tax. The 2011‑12 reported figure is an estimate.

Table D4: 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 6.0   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 6.0   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 10.0   6,609 0.4
2012-13(e) 143,980 9.4   7,146 0.5
2013-14(e) 144,646 9.0   6,647 0.4
2014-15(p) 144,350 8.5   6,690 0.4
2015-16(p) 137,742 7.7   7,772 0.4

(a) Data have been revised in the 2012‑13 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 D5: 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 23.6   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 26.3   180,094 25.5   8 0.0   6,007 0.8
2001-02 190,488 25.2   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 25.1   660 0.1   6,148 0.7
2004-05 242,507 26.3   229,245 24.9   1,034 0.1   12,228 1.3
2005-06 261,238 26.3   242,173 24.3   2,498 0.3   16,568 1.7
2006-07 278,411 25.7   259,156 23.9   2,333 0.2   16,922 1.6
2007-08 303,729 25.8   280,107 23.8   2,593 0.2   21,029 1.8
2008-09 298,933 23.9   324,557 25.9   4,064 0.3   -29,688 -2.4
2009-10 292,767 22.6   340,035 26.3   6,433 0.5   -53,701 -4.2
2010-11 309,890 22.1   356,100 25.5   5,297 0.4   -51,506 -3.7
2011-12 338,109 23.0   377,739 25.7   4,850 0.3   -44,481 -3.0
2012-13(e) 373,739 24.4   375,049 24.5   -2,517 -0.2   1,207 0.1
2013-14(e) 403,161 25.0   397,854 24.7   1,032 0.1   4,275 0.3
2014-15(p) 421,871 24.8   413,704 24.3   1,244 0.1   6,923 0.4
2015-16(p) 446,438 24.9   435,811 24.3   865 0.0   9,762 0.5

(a) Data have been revised in the 2012‑13 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.


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 has been replaced by ABS data derived from the accrual framework.

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