Skip to content Skip to menu
Australian Government Coat of Arms

Budget | 2014-15

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

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), the Australian Office of Financial Management 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 1998‑99 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 Accounting Standards (AAS) which includes International Financial Reporting Standards (IFRS) as adopted in Australia. Prior to 2005‑06, underlying GFS data are based on data provided by agencies applying AAS prior to the adoption of IFRS;
  • most recent accounting classification changes that require revisions to the historical series have been back‑cast (where applicable) to 1998‑99, ensuring that data are consistent across the accrual period from 1998‑99 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).

Australian Government general government sector call on resources

The call on resources series for the Australian Government general government sector provides a measure of the aggregate level of receipts (both tax and non‑tax) and borrowings required to fund government activities. Cash data for the call on resources series has been derived from the underlying and headline cash balance data series.

Deflating real spending growth by the Consumer Price Index

The 2014‑15 MYEFO, including the historical series, calculates real spending growth using the Consumer Price Index (CPI) as the deflator. Previously the non‑farm GDP (NFGDP) deflator was used and has therefore been shown in this appendix for comparative purposes. The non‑farm GDP deflator incorporates fluctuations in global commodity prices which are not relevant for Government expenditures.

Table D1: Australian Government general government sector receipts, payments, net Future Fund earnings 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 20.6   8,249 4.1 5.0 18.6     886 2.0
1972-73 9,735 19.6   9,388 7.7 7.4 18.9     348 0.7
1973-74 12,228 20.3   11,078 4.2 4.3 18.4     1,150 1.9
1974-75 15,643 22.0   15,463 19.9 14.1 21.8     181 0.3
1975-76 18,727 22.5   20,225 15.7 13.9 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 2.8 24.9     ‑2,037 ‑1.9
1978-79 26,129 22.1   28,272 0.3 3.1 23.9     ‑2,142 ‑1.8
1979-80 30,321 22.6   31,642 1.5 1.7 23.6     ‑1,322 ‑1.0
1980-81 35,993 23.7   36,176 4.6 3.6 23.8     ‑184 ‑0.1
1981-82 41,499 23.6   41,151 2.9 0.6 23.4     348 0.2
1982-83 45,463 24.1   48,810 6.3 6.3 25.8     ‑3,348 ‑1.8
1983-84 49,981 23.4   56,990 9.4 9.6 26.7     ‑7,008 ‑3.3
1984-85 58,817 25.0   64,853 9.1 8.9 27.6     ‑6,037 ‑2.6
1985-86 66,206 25.4   71,328 1.5 3.6 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 25.8   82,039 ‑0.9 0.0 25.3     1,452 0.4
1988-89 90,748 24.7   85,326 ‑3.1 ‑4.4 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 24.2   100,665 3.1 3.9 24.3     ‑438 ‑0.1
1991‑92 95,840 22.7   108,472 5.7 5.8 25.6     ‑12,631 ‑3.0
1992‑93 97,633 22.0   115,751 5.6 5.8 26.1     ‑18,118 ‑4.1
1993‑94 103,824 22.2   122,009 3.5 4.5 26.1     ‑18,185 ‑3.9
1994‑95 113,458 22.9   127,619 1.4 2.4 25.7     ‑14,160 ‑2.9
1995‑96 124,429 23.5   135,538 1.9 3.2 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 ‑0.8 23.9     149 0.0
1998‑99 152,063 24.5   148,175 4.1 4.9 23.9     3,889 0.6
1999‑00 166,199 25.2   153,192 1.0 0.8 23.2     13,007 2.0
2000‑01 182,996 25.9   177,123 9.1 10.8 25.1     5,872 0.8
2001‑02 187,588 24.9   188,655 3.5 4.2 25.0     ‑1,067 ‑0.1
2002‑03 204,613 25.5   197,243 1.4 1.3 24.6     7,370 0.9
2003‑04 217,775 25.3   209,785 3.9 2.7 24.3     7,990 0.9
2004‑05 235,984 25.6   222,407 3.5 2.0 24.1     13,577 1.5
2005‑06 255,943 25.6   240,136 4.6 2.7 24.1   51   15,757 1.6
2006‑07 272,637 25.1   253,321 2.5 0.4 23.3   2,127   17,190 1.6
2007‑08 294,917 25.0   271,843 3.8 2.8 23.1   3,319   19,754 1.7
2008‑09 292,600 23.3   316,046 12.7 10.3 25.1   3,566   ‑27,013 ‑2.1
2009‑10 284,662 22.0   336,900 4.2 5.6 26.0   2,256   ‑54,494 ‑4.2
2010‑11 302,024 21.5   346,102 ‑0.4 ‑3.2 24.6   3,385   ‑47,463 ‑3.4
2011‑12 329,874 22.2   371,032 4.8 5.3 24.9   2,203   ‑43,360 ‑2.9
2012‑13 351,052 23.1   367,204 ‑3.2 ‑0.6 24.1   2,682   ‑18,834 ‑1.2
2013‑14 360,322 22.8   406,430 7.8 9.1 25.7   2,348   ‑48,456 ‑3.1
2014‑15(e) 379,483 23.6   416,526 0.1 3.4 25.9   3,319   -40,362 -2.5
2015‑16(e) 403,362 24.0   431,078 0.8 2.0 25.7   3,523   ‑31,239 ‑1.9
2016‑17(p) 429,228 24.3   446,420 1.0 2.0 25.3   3,653   ‑20,844 ‑1.2
2017‑18(p) 459,806 24.8   467,362 2.1 3.0 25.2   3,924   ‑11,480 ‑0.6

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

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

(c) Payments are equal to cash 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 calculated using the Consumer Price Index as the deflator. Real spending growth using non‑farm GDP deflator is included for comparative purposes only.

(p) Projections.

Table D2: Australian Government general government sector net cash flows for investments in financial assets for policy purposes and headline cash balance(a)
  Receipts   Payments   Net cash flows from investments in financial assets for policy purposes(b)    Headline cash balance(c)
  $m   $m   $m Per cent of GDP   $m Per cent of GDP
1970-71 8,290   7,389   ‑851 ‑2.1   50 0.1
1971-72 9,135   8,249   ‑987 ‑2.2   ‑101 ‑0.2
1972-73 9,735   9,388   ‑977 ‑2.0   ‑629 ‑1.3
1973-74 12,228   11,078   ‑1,275 ‑2.1   ‑125 ‑0.2
1974-75 15,643   15,463   ‑2,648 ‑3.7   ‑2,467 ‑3.5
1975-76 18,727   20,225   ‑2,040 ‑2.5   ‑3,539 ‑4.3
1976-77 21,890   23,157   ‑1,530 ‑1.6   ‑2,796 ‑2.9
1977-78 24,019   26,057   ‑1,324 ‑1.3   ‑3,361 ‑3.2
1978-79 26,129   28,272   ‑1,074 ‑0.9   ‑3,216 ‑2.7
1979-80 30,321   31,642   ‑702 ‑0.5   ‑2,024 ‑1.5
1980-81 35,993   36,176   ‑962 ‑0.6   ‑1,146 ‑0.8
1981-82 41,499   41,151   ‑1,008 ‑0.6   ‑660 ‑0.4
1982-83 45,463   48,810   ‑1,363 ‑0.7   ‑4,711 ‑2.5
1983-84 49,981   56,990   ‑1,136 ‑0.5   ‑8,144 ‑3.8
1984-85 58,817   64,853   ‑922 ‑0.4   ‑6,959 ‑3.0
1985-86 66,206   71,328   ‑810 ‑0.3   ‑5,932 ‑2.3
1986-87 74,724   77,158   ‑545 ‑0.2   ‑2,979 ‑1.0
1987-88 83,491   82,039   657 0.2   2,109 0.7
1988-89 90,748   85,326   168 0.0   5,589 1.5
1989-90 98,625   92,684   1,217 0.3   7,159 1.8
1990‑91 100,227   100,665   1,563 0.4   1,125 0.3
1991‑92 95,840   108,472   2,156 0.5   ‑10,475 ‑2.5
1992‑93 97,633   115,751   2,471 0.6   ‑15,647 ‑3.5
1993‑94 103,824   122,009   3,447 0.7   ‑14,738 ‑3.2
1994‑95 113,458   127,619   1,546 0.3   ‑12,614 ‑2.5
1995‑96 124,429   135,538   5,188 1.0   ‑5,921 ‑1.1
1996‑97 133,592   139,689   7,241 1.3   1,142 0.2
1997‑98 140,736   140,587   15,154 2.6   15,303 2.6
1998‑99 152,063   148,175   6,948 1.1   10,837 1.7
1999‑00 166,199   153,192   9,500 1.4   22,507 3.4
2000‑01 182,996   177,123   5,673 0.8   11,545 1.6
2001‑02 187,588   188,655   3,422 0.5   2,355 0.3
2002‑03 204,613   197,243   ‑229 0.0   7,141 0.9
2003‑04 217,775   209,785   ‑452 ‑0.1   7,538 0.9
2004‑05 235,984   222,407   ‑1,139 ‑0.1   12,438 1.3
2005‑06 255,943   240,136   ‑1,647 ‑0.2   14,160 1.4
2006‑07 272,637   253,321   7,403 0.7   26,720 2.5
2007‑08 294,917   271,843   5,108 0.4   28,181 2.4
2008‑09 292,600   316,046   ‑7,889 ‑0.6   ‑31,336 ‑2.5
2009‑10 284,662   336,900   ‑4,278 ‑0.3   ‑56,516 ‑4.4
2010‑11 302,024   346,102   ‑7,028 ‑0.5   ‑51,106 ‑3.6
2011‑12 329,874   371,032   ‑5,866 ‑0.4   ‑47,023 ‑3.2
2012‑13 351,052   367,204   ‑4,802 ‑0.3   ‑20,954 ‑1.4
2013‑14 360,322   406,430   ‑6,371 ‑0.4   ‑52,479 ‑3.3
2014‑15(e) 379,483   416,526   -6,821 -0.4   -43,863 -2.7
2015‑16(e) 403,362   431,078   ‑14,217 ‑0.8   ‑41,933 ‑2.5
2016‑17(p) 429,228   446,420   ‑17,053 ‑1.0   ‑34,244 ‑1.9
2017‑18(p) 459,806   467,362   ‑14,101 ‑0.8   ‑21,657 ‑1.2

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

(b) Prior to 1999‑2000, net cash flows from investments in financial assets for policy purposes were referred to as 'net advances'. A negative number reflects a cash outflow, while a positive number reflects a cash inflow.

(c) Headline cash balance is equal to receipts less payments, plus net cash flows from investments in financial assets for policy purposes.

(e) Estimates.

(p) Projections.

Table D3: Australian Government general government sector call on resources(a)
  Receipts(b)    Headline cash balance(c)   Call on resources(d)
   $m Per cent of GDP    $m Per cent of GDP    $m Per cent of GDP
1970-71 8,290 20.6   50 0.1   8,240 20.5
1971-72 9,135 20.6   ‑101 ‑0.2   9,236 20.8
1972-73 9,735 19.6   ‑629 ‑1.3   10,364 20.8
1973-74 12,228 20.3   ‑125 ‑0.2   12,353 20.5
1974-75 15,643 22.0   ‑2,467 ‑3.5   18,110 25.5
1975-76 18,727 22.5   ‑3,539 ‑4.3   22,266 26.8
1976-77 21,890 22.8   ‑2,796 ‑2.9   24,686 25.7
1977-78 24,019 22.9   ‑3,361 ‑3.2   27,380 26.1
1978-79 26,129 22.1   ‑3,216 ‑2.7   29,345 24.8
1979-80 30,321 22.6   ‑2,024 ‑1.5   32,345 24.1
1980-81 35,993 23.7   ‑1,146 ‑0.8   37,139 24.4
1981-82 41,499 23.6   ‑660 ‑0.4   42,159 24.0
1982-83 45,463 24.1   ‑4,711 ‑2.5   50,174 26.5
1983-84 49,981 23.4   ‑8,144 ‑3.8   58,125 27.2
1984-85 58,817 25.0   ‑6,959 ‑3.0   65,776 28.0
1985-86 66,206 25.4   ‑5,932 ‑2.3   72,138 27.7
1986-87 74,724 26.2   ‑2,979 ‑1.0   77,703 27.2
1987-88 83,491 25.8   2,109 0.7   81,382 25.1
1988-89 90,748 24.7   5,589 1.5   85,159 23.2
1989-90 98,625 24.4   7,159 1.8   91,466 22.6
1990‑91 100,227 24.2   1,125 0.3   99,102 23.9
1991‑92 95,840 22.7   ‑10,475 ‑2.5   106,315 25.1
1992‑93 97,633 22.0   ‑15,647 ‑3.5   113,280 25.5
1993‑94 103,824 22.2   ‑14,738 ‑3.2   118,562 25.4
1994‑95 113,458 22.9   ‑12,614 ‑2.5   126,072 25.4
1995‑96 124,429 23.5   ‑5,921 ‑1.1   130,350 24.6
1996‑97 133,592 24.0   1,142 0.2   132,450 23.8
1997‑98 140,736 23.9   15,303 2.6   125,433 21.3
1998‑99 152,063 24.5   10,837 1.7   141,226 22.8
1999‑00 166,199 25.2   22,507 3.4   143,692 21.7
2000‑01 182,996 25.9   11,545 1.6   171,451 24.3
2001‑02 187,588 24.9   2,355 0.3   185,233 24.6
2002‑03 204,613 25.5   7,141 0.9   197,472 24.7
2003‑04 217,775 25.3   7,538 0.9   210,237 24.4
2004‑05 235,984 25.6   12,438 1.3   223,546 24.2
2005‑06 255,943 25.6   14,160 1.4   241,783 24.2
2006‑07 272,637 25.1   26,720 2.5   245,918 22.6
2007‑08 294,917 25.0   28,181 2.4   266,735 22.6
2008‑09 292,600 23.3   ‑31,336 ‑2.5   323,935 25.7
2009‑10 284,662 22.0   ‑56,516 ‑4.4   341,178 26.3
2010‑11 302,024 21.5   ‑51,106 ‑3.6   353,130 25.1
2011‑12 329,874 22.2   ‑47,023 ‑3.2   376,898 25.3
2012‑13 351,052 23.1   ‑20,954 ‑1.4   372,006 24.5
2013‑14 360,322 22.8   ‑52,479 ‑3.3   412,801 26.1
2014‑15(e) 379,483 23.6   -43,863 -2.7   423,346 26.3
2015‑16(e) 403,362 24.0   ‑41,933 ‑2.5   445,295 26.5
2016‑17(p) 429,228 24.3   ‑34,244 ‑1.9   463,472 26.3
2017‑18(p) 459,806 24.8   ‑21,657 ‑1.2   481,463 25.9

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

(b) Receipts are identical to those in Table 1.

(c) Headline cash balance is equal to receipts less payments, plus net cash flows from investments in financial assets for policy purposes. Headline cash balance is identical to those in Table D2.

(d) Call on resources is equal to receipts less headline cash balance.

(e) Estimates.

(p) Projections.

Table D4: Australian Government general government sector (cash) receipts
  Actual   Estimates   Projections
  2013‑14   2014‑15 2015‑16   2016‑17 2017‑18
  $m   $m $m   $m $m
Individuals and other withholding taxes              
Gross income tax withholding 156,211   166,700 178,800   190,100 203,300
Gross other individuals 34,787   37,300 41,100   45,100 49,200
less: Refunds 27,407   27,500 28,100   29,200 31,200
Total individuals and other withholding tax 163,592   176,500 191,800   206,000 221,300
Fringe benefits tax 4,077   4,350 4,890   5,120 4,960
Company tax 67,273   68,960 70,800   76,300 81,300
Superannuation fund taxes 6,101   7,040 9,630   10,680 11,360
Minerals resource rent tax(a) 143   60 0   0 0
Petroleum resource rent tax 1,368   1,890 1,700   1,650 1,650
Income taxation receipts 242,553   258,800 278,820   299,750 320,570
Goods and services tax 51,394   53,982 57,468   60,662 63,923
Wine equalisation tax 766   800 830   870 900
Luxury car tax 464   400 360   370 390
Excise and customs duty              
Petrol 6,053   5,950 6,150   6,450 6,850
Diesel 8,940   8,930 9,340   9,750 10,180
Other fuel products 3,624   3,260 3,150   3,330 3,500
Tobacco 8,498   8,310 9,560   10,600 10,890
Beer 2,348   2,410 2,470   2,590 2,730
Spirits 1,909   1,970 2,030   2,130 2,240
Other alcoholic beverages(b) 927   950 990   1,040 1,090
Other customs duty              
Textiles, clothing and footwear 789   590 310   220 170
Passenger motor vehicles 921   800 520   510 530
Other imports 1,631   1,570 1,070   930 940
less: Refunds and drawbacks 319   420 420   420 420
Total excise and customs duty 35,321   34,320 35,170   37,130 38,700
Carbon pricing mechanism 4,363   1,800 0   0 0
Agricultural levies 495   454 478   484 501
Other taxes 3,012   3,038 3,477   3,526 3,596
Indirect taxation receipts 95,815   94,794 97,784   103,042 108,009
Taxation receipts 338,368   353,594 376,604   402,792 428,579
Sales of goods and services 8,579   9,114 9,202   11,379 16,004
Interest 3,128   3,469 4,022   3,950 3,976
Dividends 2,978   3,831 3,407   3,367 3,838
Other non-taxation receipts 7,268   9,475 10,128   7,740 7,409
Non-taxation receipts 21,954   25,889 26,759   26,436 31,227
Total receipts 360,322   379,483 403,362   429,228 459,806
Memorandum:              
Total excise 26,075   25,260 26,860   28,400 29,710
Total customs duty 9,246   9,060 8,310   8,730 8,990
Capital gains tax(c) 7,300   8,900 11,300   13,500 15,600
Medicare and DisabilityCare Australia levy 10,500   14,130 15,040   15,830 16,650

(a) Net receipts from the MRRT are expected to be around $40 million in 2014‑15 which represents the net receipts impact across different revenue heads. These include the offsetting reductions in company tax (through deductibility) and interactions with other taxes. The Government has announced the MRRT will not apply beyond 30 September 2014.

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

(c) Capital gains tax is part of gross other individuals, company tax and superannuation fund taxes. The 2013‑14 reported figure is an estimate.

Table D5: 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 17.9   1,097 2.7   8,290 20.6
1971-72 7,895 17.8   1,240 2.8   9,135 20.6
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 19.8   2,720 2.3   26,129 22.1
1979-80 27,473 20.5   2,848 2.1   30,321 22.6
1980-81 32,641 21.5   3,352 2.2   35,993 23.7
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 24.1
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 23.2   8,415 2.6   83,491 25.8
1988-89 83,452 22.7   7,296 2.0   90,748 24.7
1989-90 90,773 22.5   7,852 1.9   98,625 24.4
1990‑91 92,739 22.4   7,488 1.8   100,227 24.2
1991‑92 87,364 20.7   8,476 2.0   95,840 22.7
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 21.2   8,537 1.7   113,458 22.9
1995‑96 115,700 21.9   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 2.3   166,199 25.2
2000‑01 170,354 24.2   12,641 1.8   182,996 25.9
2001‑02 175,108 23.2   12,481 1.7   187,588 24.9
2002‑03 192,131 24.0   12,482 1.6   204,613 25.5
2003‑04 206,091 23.9   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 25.6
2006‑07 257,392 23.7   15,245 1.4   272,637 25.1
2007‑08 278,376 23.6   16,540 1.4   294,917 25.0
2008‑09 272,627 21.7   19,973 1.6   292,600 23.3
2009‑10 260,973 20.1   23,689 1.8   284,662 22.0
2010‑11 280,839 19.9   21,185 1.5   302,024 21.5
2011‑12 309,943 20.8   19,931 1.3   329,874 22.2
2012‑13 326,426 21.5   24,627 1.6   351,052 23.1
2013‑14 338,368 21.4   21,954 1.4   360,322 22.8
2014‑15(e) 353,594 22.0   25,889 1.6   379,483 23.6
2015‑16(e) 376,604 22.4   26,759 1.6   403,362 24.0
2016‑17(p) 402,792 22.8   26,436 1.5   429,228 24.3
2017‑18(p) 428,579 23.1   31,227 1.7   459,806 24.8

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

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

(c) Estimates.

(p) Projections.

Table D6: 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 8.2   7,514 1.1
2000‑01 42,719 6.1   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 9.9   6,609 0.4
2012‑13 152,982 10.1   8,285 0.5
2013‑14 202,463 12.8   10,843 0.7
2014‑15(e) 244,836 15.2   10,752 0.7
2015‑16(e) 279,574 16.7   11,332 0.7
2016‑17(p) 304,383 17.2   12,058 0.7
2017‑18(p) 315,764 17.0   12,700 0.7

(a) Data have been revised in the 2014‑15 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 D7: Australian Government general government sector face value of Commonwealth Government Securities (CGS) on issue and interest paid
  Face value of CGS on issue(a)    
 

Total CGS on issue(b)

 

Subject to Treasurer's direction(c)

 

Interest Paid(d)

  End of year
$m
Per cent of GDP   End of year
$m
Per cent of GDP   $m Per cent of GDP
1970-71 10,887 27.0     580 1.4
1971-72 11,490 25.8     614 1.4
1972-73 12,217 24.6     675 1.4
1973-74 12,809 21.3     712 1.2
1974-75 14,785 20.8     893 1.3
1975-76 17,940 21.6     1,001 1.2
1976-77 20,845 21.7     1,485 1.5
1977-78 23,957 22.9     1,740 1.7
1978-79 28,120 23.7     2,080 1.8
1979-80 29,321 21.8     2,356 1.8
1980-81 30,189 19.9     2,723 1.8
1981-82 31,060 17.7     3,058 1.7
1982-83 37,071 19.6     3,580 1.9
1983-84 45,437 21.3     4,558 2.1
1984-85 54,420 23.2     5,952 2.5
1985-86 63,089 24.2     7,394 2.8
1986-87 67,172 23.5     8,339 2.9
1987-88 62,794 19.4     8,139 2.5
1988-89 56,854 15.5     8,222 2.2
1989-90 48,399 12.0     8,064 2.0
1990‑91 48,723 11.7     6,994 1.7
1991‑92 58,826 13.9     6,819 1.6
1992‑93 76,509 17.2     6,487 1.5
1993‑94 90,889 19.5     7,709 1.7
1994‑95 105,466 21.3     9,144 1.8
1995‑96 110,166 20.8     10,325 2.0
1996‑97 111,067 20.0     10,653 1.9
1997‑98 93,664 15.9     9,453 1.6
1998‑99 85,331 13.8     9,299 1.5
1999‑00 75,536 11.4     8,509 1.3
2000‑01 66,403 9.4     7,335 1.0
2001‑02 63,004 8.4     6,270 0.8
2002‑03 57,435 7.2     4,740 0.6
2003‑04 54,750 6.4     4,096 0.5
2004‑05 55,151 6.0     3,902 0.4
2005‑06 54,070 5.4     4,628 0.5
2006‑07 53,264 4.9     3,959 0.4
2007‑08 55,442 4.7     3,754 0.3
2008‑09 101,147 8.0   95,103 7.6   3,970 0.3
2009‑10 147,133 11.4   141,806 10.9   6,411 0.5
2010‑11 191,292 13.6   186,704 13.3   9,551 0.7
2011‑12 233,976 15.7   229,389 15.4   10,875 0.7
2012‑13 257,378 16.9   252,791 16.6   11,846 0.8
2013‑14 319,487 20.2   316,952 20.0   13,972 0.9
2014‑15(e) 370,000 23.0   367,000 22.8   14,221 0.9
2015‑16(e) 415,000 24.7   413,000 24.6   15,354 0.9
2016‑17(p) 461,000 26.1   459,000 26.0   16,007 0.9
2017‑18(p) 484,000 26.0   481,000 25.9   16,676 0.9

(a) From 2014‑15 onwards, data for CGS on issue are projections and are rounded to the nearest $1 billion.

(b) Total CGS on issue includes CGS held on behalf of the States and the Northern Territory, but excludes Commonwealth holdings of CGS.

(c) The face value of CGS subject to the Treasurer's Direction excludes the stock and securities outlined in subsection 51JA(2A) of the Commonwealth Inscribed Stock Act 1911. These are the same stock and securities that were excluded from the previous legislative debt limit. CGS on issue subject to the Treasurer's Direction are not available prior to 2008‑09 because the limit was first introduced in July 2008.

(d) Interest paid consists of all cash interest payments of the general government sector, including those relating to CGS on issue.

(e) Estimates.

(p) Projections.

Table D8: 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 25.5   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 23.7   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 26.4   180,094 25.5   8 0.0   6,007 0.9
2001‑02 190,488 25.3   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 25.0   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 26.2   242,334 24.3   2,498 0.3   16,406 1.6
2006‑07 278,411 25.6   259,276 23.9   2,333 0.2   16,801 1.5
2007‑08 303,729 25.8   280,188 23.8   2,593 0.2   20,948 1.8
2008‑09 298,933 23.8   324,612 25.8   4,064 0.3   ‑29,743 ‑2.4
2009‑10 292,767 22.6   340,208 26.3   6,433 0.5   ‑53,875 ‑4.2
2010‑11 309,890 22.0   356,353 25.3   5,297 0.4   ‑51,760 ‑3.7
2011‑12 338,109 22.7   378,005 25.4   4,850 0.3   ‑44,746 ‑3.0
2012‑13 360,160 23.7   382,644 25.2   987 0.1   ‑23,472 ‑1.5
2013‑14 373,950 23.6   413,845 26.2   3,850 0.2   ‑43,746 ‑2.8
2014‑15(e) 385,876 24.0   422,898 26.3   2,784 0.2   -39,806 -2.5
2015‑16(e) 411,682 24.5   436,484 26.0   2,422 0.1   ‑27,223 ‑1.6
2016‑17(p) 441,036 25.0   456,097 25.8   2,718 0.2   ‑17,778 ‑1.0
2017‑18(p) 473,174 25.5   475,310 25.6   2,899 0.2   ‑5,035 ‑0.3

(a) Data have been revised in the 2014‑15 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.

Table D9: Australian Government general government sector net worth and net financial worth(a)
  Net worth(b)    Net financial worth(c)
  $m Per cent of GDP   $m Per cent of GDP
1999‑00 ‑7,046 ‑1.1   ‑67,036 ‑10.1
2000‑01 ‑6,618 ‑0.9   ‑71,876 ‑10.2
2001‑02 ‑11,655 ‑1.5   ‑78,032 ‑10.4
2002‑03 ‑15,330 ‑1.9   ‑82,931 ‑10.4
2003‑04 ‑1,152 ‑0.1   ‑72,389 ‑8.4
2004‑05 14,556 1.6   ‑58,882 ‑6.4
2005‑06 17,971 1.8   ‑59,763 ‑6.0
2006‑07 46,351 4.3   ‑35,696 ‑3.3
2007‑08 70,859 6.0   ‑14,690 ‑1.2
2008‑09 19,427 1.5   ‑71,490 ‑5.7
2009‑10 ‑45,938 ‑3.5   ‑144,485 ‑11.2
2010‑11 ‑95,386 ‑6.8   ‑198,787 ‑14.1
2011‑12 ‑247,208 ‑16.6   ‑355,834 ‑23.9
2012‑13 ‑202,650 ‑13.3   ‑312,724 ‑20.6
2013‑14 ‑256,045 ‑16.2   ‑370,331 ‑23.4
2014‑15(e) -229,481 -14.3   -347,931 -21.6
2015‑16(e) ‑253,511 ‑15.1   ‑374,827 ‑22.3
2016‑17(p) ‑269,309 ‑15.3   ‑392,673 ‑22.2
2017‑18(p) ‑271,781 ‑14.6   ‑398,716 ‑21.5

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

(b) Net worth is equal to total assets less liabilities.

(c) Net financial worth is equal to financial assets less liabilities.

(e) Estimates.

(p) Projections.

Table D10: Australian Government general government sector accrual taxation revenue, non‑taxation revenue and total revenue(a)
  Taxation revenue   Non-taxation revenue   Total revenue
  $m Per cent of GDP   $m Per cent of GDP   $m Per cent of GDP
1999‑00 153,408 23.2   13,896 2.1   167,304 25.3
2000‑01 175,881 24.9   10,228 1.5   186,110 26.4
2001‑02 178,210 23.7   12,278 1.6   190,488 25.3
2002‑03 195,203 24.4   11,720 1.5   206,923 25.8
2003‑04 209,959 24.4   12,209 1.4   222,168 25.8
2004‑05 229,943 24.9   12,564 1.4   242,507 26.3
2005‑06 245,716 24.6   15,522 1.6   261,238 26.2
2006‑07 262,511 24.1   15,900 1.5   278,411 25.6
2007‑08 286,229 24.3   17,500 1.5   303,729 25.8
2008‑09 278,653 22.1   20,280 1.6   298,933 23.8
2009‑10 268,000 20.7   24,767 1.9   292,767 22.6
2010‑11 289,005 20.5   20,885 1.5   309,890 22.0
2011‑12 316,779 21.3   21,330 1.4   338,109 22.7
2012‑13 337,323 22.2   22,836 1.5   360,160 23.7
2013‑14 351,088 22.2   22,862 1.4   373,950 23.6
2014‑15(e) 361,959 22.5   23,917 1.5   385,876 24.0
2015‑16(e) 387,249 23.1   24,433 1.5   411,682 24.5
2016‑17(p) 413,821 23.4   27,216 1.5   441,036 25.0
2017‑18(p) 440,468 23.7   32,706 1.8   473,174 25.5

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

(e) Estimates.

(p) Projections.

Table D11: Australian Government general government sector (accrual) revenue
  Actual   Estimates   Projections
  2013‑14   2014‑15 2015‑16   2016‑17 2017‑18
  $m   $m $m   $m $m
Individuals and other withholding taxes              
Gross income tax withholding 157,761   168,430 180,660   192,040 205,370
Gross other individuals 37,561   40,470 44,550   48,850 53,270
less: Refunds 27,407   27,500 28,100   29,200 31,200
Total individuals and other withholding tax 167,915   181,400 197,110   211,690 227,440
Fringe benefits tax 4,285   4,480 5,030   5,260 5,100
Company tax 68,764   70,930 72,500   78,100 83,300
Superannuation fund taxes 6,146   7,130 9,760   10,860 11,560
Minerals resource rent tax(a) 141   60 0   0 0
Petroleum resource rent tax 1,645   1,770 1,700   1,680 1,650
Income taxation revenue 248,897   265,770 286,100   307,590 329,050
Goods and services tax 55,517   56,820 60,390   63,510 66,950
Wine equalisation tax 826   810 840   880 910
Luxury car tax 476   400 360   380 400
Excise and customs duty              
Petrol 5,927   5,970 6,200   6,410 6,820
Diesel 8,758   8,960 9,370   9,750 10,180
Other fuel products 3,572   3,280 3,170   3,330 3,500
Tobacco 8,531   8,320 9,580   10,600 10,890
Beer 2,307   2,430 2,480   2,590 2,730
Spirits 1,902   1,970 2,030   2,130 2,240
Other alcoholic beverages(b) 908   950 990   1,040 1,090
Other customs duty              
Textiles, clothing and footwear 789   590 310   220 170
Passenger motor vehicles 921   800 520   510 530
Other imports 1,633   1,570 1,070   930 940
less: Refunds and drawbacks 319   420 420   420 420
Total excise and customs duty 34,929   34,420 35,300   37,090 38,670
Carbon pricing mechanism 6,623   0 0   0 0
Agricultural levies 491   454 478   484 501
Other taxes 3,329   3,285 3,781   3,886 3,988
Indirect taxation revenue 102,191   96,190 101,149   106,231 111,419
Taxation revenue 351,088   361,959 387,249   413,821 440,468
Sales of goods and services 8,573   9,190 9,258   11,453 16,070
Interest 3,341   3,987 4,672   5,031 5,322
Dividends 4,105   3,396 3,170   3,644 4,113
Other non-taxation revenue 6,843   7,344 7,333   7,087 7,200
Non-taxation revenue 22,862   23,917 24,433   27,216 32,706
Total revenue 373,950   385,876 411,682   441,036 473,174
Memorandum:              
Total excise 25,648   25,360 26,990   28,360 29,680
Total customs duty 9,280   9,060 8,310   8,730 8,990
Capital gains tax(c) 7,300   8,900 11,300   13,500 15,600
Medicare and DisabilityCare Australia levy 10,309   14,130 15,040   15,830 16,650

(a) Net revenue from the MRRT is expected to be around $40 million in 2014‑15 which represents the net revenue impact across different revenue heads. These include the offsetting reductions in company tax (through deductibility) and interactions with other taxes. The Government has announced the MRRT will not apply beyond 30 September 2014.

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

(c) Capital gains tax is part of gross other individuals, company tax and superannuation fund taxes. The 2013‑14 reported figure is an estimate.

Table D12: Australian Government cash receipts, payments and surplus by institutional sector ($m)(a)
  General government   Public non-financial corporations   Non-financial public sector
  Receipts(b) Payments(c) Underlying balance(d)   Receipts(b) Payments(c) Cash surplus(d)   Receipts(b) Payments(c) Underlying balance(d)
1988-89 90,748 85,326 5,421   4,177 6,035 257   93,923 90,312 5,678
1989-90 98,625 92,684 5,942   3,926 11,322 ‑5,261   101,495 102,883 681
1990‑91 100,227 100,665 ‑438   4,804 9,351 ‑2,139   103,837 108,808 ‑2,577
1991‑92 95,840 108,472 ‑12,631   3,899 7,713 101   97,937 114,369 ‑12,530
1992‑93 97,633 115,751 ‑18,118   4,385 7,819 ‑196   100,512 122,042 ‑18,314
1993‑94 103,824 122,009 ‑18,185   5,178 6,476 1,482   106,747 126,214 ‑16,703
1994‑95 113,458 127,619 ‑14,160   5,262 7,318 1,956   116,751 132,965 ‑12,204
1995‑96 124,429 135,538 ‑11,109   4,927 8,190 ‑527   126,593 140,963 ‑11,636
1996‑97 133,592 139,689 ‑6,099   4,782 7,373 473   135,259 143,948 ‑5,626
1997‑98 140,736 140,587 149   6,238 7,923 1,119   144,517 145,985 1,268
1998‑99 152,063 148,175 3,889   na na ‑353   na na 3,536
1999‑00 166,199 153,192 13,007   na na ‑2,594   na na 10,413
2000‑01 182,996 177,123 5,872   na na 391   na na 6,264
2001‑02 187,588 188,655 ‑1,067   na na 1,210   na na 143
2002‑03 204,613 197,243 7,370   27,386 26,105 1,280   na na 8,650
2003‑04 217,775 209,785 7,990   27,718 26,142 1,575   238,236 228,669 9,564
2004‑05 235,984 222,407 13,577   29,621 28,071 1,550   257,946 242,818 15,128
2005‑06 255,943 240,136 15,757   30,875 31,874 ‑999   278,254 263,445 14,759
2006‑07 272,637 253,321 17,190   16,882 18,641 ‑1,759   285,336 267,778 15,431
2007‑08 294,917 271,843 19,754   7,758 8,232 ‑473   300,503 277,903 19,281
2008‑09 292,600 316,046 ‑27,013   7,987 8,960 ‑973   297,421 321,841 ‑27,986
2009‑10 284,662 336,900 ‑54,494   8,419 9,341 ‑922   290,681 343,841 ‑55,416
2010‑11 302,024 346,102 ‑47,463   8,558 9,733 ‑1,175   308,258 353,511 ‑48,638
2011‑12 329,874 371,032 ‑43,360   8,845 10,847 ‑2,002   336,122 379,282 ‑45,362
2012‑13 351,052 367,204 ‑18,834   9,766 14,135 ‑4,369   358,088 378,609 ‑23,203
2013‑14 360,322 406,430 ‑48,456   11,042 16,322 ‑5,280   368,521 419,910 ‑53,737
2014‑15(e) 379,483 416,526 -40,362   10,558 15,990 -5,432   387,471 429,945 -45,794
2015‑16(e) 403,362 431,078 ‑31,239   na na na   na na na
2016‑17(p) 429,228 446,420 ‑20,844   na na na   na na na
2017‑18(p) 459,806 467,362 ‑11,480   na na na   na na na

(a) Data have been revised in the 2014‑15 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, distributions paid and net acquisition of assets under finance leases.

(d) These items exclude net Future Fund earnings from 2005‑06 onwards. Net Future Fund earnings are shown in Table D1.

(e) Estimates.

(p) Projections.

na Data not available.

Table D13: Australian Government accrual revenue, expenses and fiscal balance by institutional sector ($m)(a)
  General government   Public non-financial corporations   Non-financial public sector
  Revenue Expenses Fiscal
balance(b)
  Revenue Expenses Fiscal
balance(b)
  Revenue Expenses Fiscal
balance(b)
1996‑97 141,688 145,821 ‑4,223   27,431 26,015 ‑331   na na ‑4,554
1997‑98 146,820 148,652 ‑1,979   29,618 26,999 2,360   na na 387
1998‑99 152,106 146,772 3,901   27,687 26,088 ‑816   175,891 168,958 3,085
1999‑00 167,304 155,558 11,815   25,485 23,542 1,062   188,841 175,152 11,721
2000‑01 186,110 180,094 6,007   25,869 24,762 ‑826   207,372 200,250 5,181
2001‑02 190,488 193,041 ‑2,935   26,638 25,341 793   212,518 213,774 ‑2,142
2002‑03 206,923 201,259 5,377   24,339 22,916 1,975   226,135 219,089 7,311
2003‑04 222,168 215,361 6,148   25,449 23,444 2,143   241,873 233,060 8,291
2004‑05 242,507 229,245 12,228   26,965 25,191 1,473   263,587 248,552 13,700
2005‑06 261,238 242,334 16,406   28,143 29,531 ‑2,442   282,597 265,080 13,964
2006‑07 278,411 259,276 16,801   15,443 16,360 ‑1,763   290,067 271,850 15,038
2007‑08 303,729 280,188 20,948   6,854 6,686 ‑584   309,215 285,506 20,364
2008‑09 298,933 324,612 ‑29,743   6,998 7,576 ‑1,495   303,733 329,991 ‑31,238
2009‑10 292,767 340,208 ‑53,875   7,288 7,297 ‑1,079   298,412 345,863 ‑54,954
2010‑11 309,890 356,353 ‑51,760   7,563 7,787 ‑1,446   315,688 362,375 ‑53,205
2011‑12 338,109 378,005 ‑44,746   8,046 8,238 ‑2,158   344,507 384,595 ‑46,904
2012‑13 360,160 382,644 ‑23,472   8,863 9,415 ‑4,189   367,306 390,342 ‑27,661
2013‑14 373,950 413,845 ‑43,746   9,537 11,127 ‑6,070   381,770 423,256 ‑49,816
2014‑15(e) 385,876 422,898 -39,806   9,708 11,723 -5,878   394,050 433,087 -45,684
2015‑16(e) 411,682 436,484 ‑27,223   na na na   na na na
2016‑17(p) 441,036 456,097 ‑17,778   na na na   na na na
2017‑18(p) 473,174 475,310 ‑5,035   na na na   na na na

(a) Data have been revised in the 2014‑15 MYEFO to improve accuracy and comparability through time.

(b) Fiscal balance is equal to revenue less expenses less net capital investment. Net capital investment is not shown in this table.

(e) Estimates.

(p) Projections.

na Data not available.


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