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Australian Government Coat of Arms

Budget | 2015-16

Budget 2015-16
Australian Government Coat of Arms, Budget 2015-16

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).

The 2015‑16 MYEFO includes revisions to the historical series to reflect a change by the Department of Immigration and Border Protection to the classification of visa application charges. The charges will now be treated as taxation revenue/receipts rather than non‑taxation revenue/receipts to reflect a sustained change in the nature of the revenue/receipts. This reclassification will take effect from the 2015‑16 MYEFO and prior periods will be adjusted to ensure comparability across years. This change will increase taxation revenue/receipts and decrease non‑taxation revenue/receipts. There is no impact on total revenue, the underlying cash balance or the fiscal balance for the general government sector.

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 4.7 18.6   -   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 14.6 21.8   -   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 24.9   -   -2,037 -1.9
1978-79 26,129 22.1   28,272 0.3 2.7 23.9   -   -2,142 -1.8
1979-80 30,321 22.6   31,642 1.5 2.1 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 0.5 23.4   -   348 0.2
1982-83 45,463 24.1   48,810 6.3 6.2 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 9.0 27.6   -   -6,037 -2.6
1985-86 66,206 25.4   71,328 1.5 3.7 27.4   -   -5,122 -2.0
1986-87 74,724 26.2   77,158 -1.1 0.7 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 1.7 22.9   -   5,942 1.5
1990‑91 100,227 24.2   100,665 3.1 3.8 24.3   -   -438 -0.1
1991‑92 95,840 22.7   108,472 5.7 5.9 25.6   -   -12,631 -3.0
1992‑93 97,633 22.0   115,751 5.6 5.9 26.1   -   -18,118 -4.1
1993‑94 103,824 22.3   122,009 3.5 4.4 26.1   -   -18,185 -3.9
1994‑95 113,458 22.9   127,619 1.4 2.5 25.8   -   -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 -0.7 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 4.1 25.0   -   -1,067 -0.1
2002‑03 204,613 25.6   197,243 1.4 1.4 24.6   -   7,370 0.9
2003‑04 217,775 25.3   209,785 3.9 2.6 24.4   -   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 25.7   240,136 4.6 2.6 24.1   51   15,757 1.6
2006‑07 272,637 25.1   253,321 2.5 0.5 23.3   2,127   17,190 1.6
2007‑08 294,917 25.0   271,843 3.8 2.7 23.1   3,319   19,754 1.7
2008‑09 292,600 23.3   316,046 12.7 10.4 25.1   3,566   -27,013 -2.1
2009‑10 284,662 22.0   336,900 4.2 5.5 26.0   2,256   -54,494 -4.2
2010‑11 302,024 21.4   346,102 -0.4 -3.2 24.5   3,385   -47,463 -3.4
2011‑12 329,874 22.1   371,032 4.8 5.1 24.9   2,203   -43,360 -2.9
2012‑13 351,052 23.0   367,204 -3.2 -0.7 24.1   2,682   -18,834 -1.2
2013‑14 360,322 22.7   406,430 7.8 9.1 25.6   2,348   -48,456 -3.1
2014‑15 378,301 23.5   412,079 -0.3 2.2 25.6   4,089   -37,867 -2.4
2015‑16(e) 394,891 23.9   428,335 2.0 4.0 25.9   3,955   -37,399 -2.3
2016‑17(e) 415,327 24.1   445,277 1.5 2.3 25.8   3,717   -33,667 -2.0
2017‑18(p) 440,883 24.3   459,897 1.0 1.3 25.3   4,007   -23,021 -1.3
2018-19(p) 473,531 24.8   483,295 2.5 3.0 25.3   4,465   -14,229 -0.7

(a) Data have been revised in the 2015‑16 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 from 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
2014‑15 378,301   412,079   -5,158 -0.3   -38,936 -2.4
2015‑16(e) 394,891   428,335   -14,727 -0.9   -48,171 -2.9
2016‑17(e) 415,327   445,277   -18,922 -1.1   -48,872 -2.8
2017‑18(p) 440,883   459,897   -13,262 -0.7   -32,276 -1.8
2018-19(p) 473,531   483,295   -14,044 -0.7   -23,808 -1.2

(a) Data have been revised in the 2015‑16 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. Receipts and payment are identical to Table D1.

(e) Estimates.

(p) Projections.

Table D3: Australian Government general government sector taxation receipts, non‑taxation receipts and total receipts(a)
  Taxation receipts(b)   Non-taxation receipts(b)   Total receipts(c)
  $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 22.3
1994‑95 104,921 21.2   8,537 1.7   113,458 22.9
1995‑96 115,700 21.9   8,729 1.7   124,429 23.5
1996‑97 124,559 22.4   9,033 1.6   133,592 24.0
1997‑98 130,984 22.3   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 25.6
2003‑04 206,478 24.0   11,296 1.3   217,775 25.3
2004‑05 223,723 24.3   12,262 1.3   235,984 25.6
2005‑06 241,681 24.2   14,262 1.4   255,943 25.7
2006‑07 257,973 23.7   14,665 1.3   272,637 25.1
2007‑08 279,018 23.7   15,899 1.3   294,917 25.0
2008‑09 273,379 21.7   19,221 1.5   292,600 23.3
2009‑10 261,864 20.2   22,798 1.8   284,662 22.0
2010‑11 281,767 20.0   20,257 1.4   302,024 21.4
2011‑12 310,972 20.9   18,902 1.3   329,874 22.1
2012‑13 327,589 21.5   23,464 1.5   351,052 23.0
2013‑14 339,962 21.5   20,359 1.3   360,322 22.7
2014‑15 353,494 22.0   24,807 1.5   378,301 23.5
2015‑16(e) 368,230 22.3   26,661 1.6   394,891 23.9
2016‑17(e) 389,125 22.5   26,202 1.5   415,327 24.1
2017‑18(p) 413,172 22.8   27,711 1.5   440,883 24.3
2018-19(p) 440,410 23.1   33,121 1.7   473,531 24.8

(a) Data have been revised in the 2015—16 MYEFO to improve accuracy and comparability through time.

(b) Visa application charges have been reclassified from non‑taxation receipts to taxation receipts to reflect a sustained change in the nature of receipts. This reclassification is reflected from 2015‑16 MYEFO and back-casting occurs from 2003‑04.

(c) Receipts are equal to receipts from operating activities and sales of non‑financial assets. Receipts are identical to Table D1.

(e) Estimates.

(p) Projections.

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 8.2   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 10.0   8,285 0.5
2013‑14 202,463 12.8   10,843 0.7
2014‑15 238,721 14.8   10,868 0.7
2015‑16(e) 278,761 16.9   11,166 0.7
2016‑17(e) 316,520 18.3   11,916 0.7
2017‑18(p) 336,404 18.5   12,734 0.7
2018-19(p) 346,557 18.2   13,546 0.7

(a) Data have been revised in the 2015‑16 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 face value of Commonwealth Government Securities (CGS) on issue and interest paid(a)
  Face value of CGS on issue(b)   Interest Paid(f)
  Total CGS on issue(c)   Subject to Treasurer's direction(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 11.3   141,806 10.9   6,411 0.5
2010‑11 191,292 13.6   186,704 13.2   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
2013‑14 319,481 20.2   316,952 20.0   13,972 0.9
2014‑15 368,738 22.9   366,202 22.8   13,924 0.9
2015‑16(e) 429,000 26.0   426,000 25.8   15,040 0.9
2016‑17(e) 489,000 28.3   486,000 28.1   15,922 0.9
2017‑18(p) 526,000 29.0   523,000 28.8   16,784 0.9
2018-19(p) 552,000 28.9   549,000 28.8   18,188 1.0

(a) Data have been revised in the 2015‑16 MYEFO to improve accuracy and comparability through time.

(b) From 2015‑16 onwards, data for CGS on issue are projections and are rounded to the nearest $1 billion.

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

(d) 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.

(e) Estimates.

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

(p) Projections.

Table D6: 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 25.3   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
2000‑01 186,106 26.4   180,090 25.5   8 0.0   6,007 0.9
2001‑02 190,432 25.3   192,984 25.6   382 0.1   -2,935 -0.4
2002‑03 206,778 25.8   201,113 25.1   287 0.0   5,377 0.7
2003‑04 222,042 25.8   215,235 25.0   660 0.1   6,148 0.7
2004‑05 242,354 26.3   229,092 24.8   1,034 0.1   12,228 1.3
2005‑06 260,569 26.1   241,665 24.2   2,498 0.3   16,406 1.6
2006‑07 277,895 25.6   258,761 23.8   2,333 0.2   16,801 1.5
2007‑08 303,402 25.8   279,862 23.8   2,593 0.2   20,948 1.8
2008‑09 298,508 23.7   324,188 25.8   4,064 0.3   -29,743 -2.4
2009‑10 292,387 22.5   339,829 26.2   6,433 0.5   -53,875 -4.2
2010‑11 309,204 21.9   355,667 25.2   5,297 0.4   -51,760 -3.7
2011‑12 337,324 22.6   377,220 25.3   4,850 0.3   -44,746 -3.0
2012‑13 359,496 23.6   381,980 25.1   987 0.1   -23,472 -1.5
2013‑14 374,151 23.6   414,047 26.1   3,850 0.2   -43,746 -2.8
2014‑15 380,746 23.7   417,898 26.0   2,706 0.2   -39,857 -2.5
2015‑16(e) 400,953 24.3   432,234 26.2   4,484 0.3   -35,765 -2.2
2016‑17(e) 423,200 24.5   451,206 26.1   4,745 0.3   -32,751 -1.9
2017‑18(p) 452,581 24.9   465,892 25.7   4,103 0.2   -17,415 -1.0
2018-19(p) 487,094 25.5   491,370 25.7   5,933 0.3   -10,209 -0.5

(a) Data have been revised in the 2015‑16 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 D7: 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 -11.1
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 -20.5
2013‑14 -256,045 -16.2   -370,331 -23.4
2014‑15 -302,350 -18.8   -421,129 -26.2
2015‑16(e) -254,783 -15.4   -377,540 -22.9
2016‑17(e) -282,921 -16.4   -409,687 -23.7
2017‑18(p) -295,777 -16.3   -427,342 -23.6
2018-19(p) -300,744 -15.8   -438,199 -23.0

(a) Data have been revised in the 2015‑16 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 total liabilities.

(e) Estimates.

(p) Projections.

Table D8: Australian Government general government sector accrual taxation revenue, non‑taxation revenue and total revenue(a)
  Taxation revenue(b)   Non-taxation revenue(b)   Total revenue
  $m Per cent of GDP   $m Per cent of GDP   $m Per cent of GDP
1999‑00 153,409 23.2   13,895 2.1   167,304 25.3
2000‑01 175,876 24.9   10,229 1.5   186,106 26.4
2001‑02 178,154 23.6   12,278 1.6   190,432 25.3
2002‑03 195,057 24.4   11,719 1.5   206,778 25.8
2003‑04 210,220 24.4   11,822 1.4   222,042 25.8
2004‑05 230,198 25.0   12,155 1.3   242,354 26.3
2005‑06 245,512 24.6   15,056 1.5   260,569 26.1
2006‑07 262,576 24.2   15,320 1.4   277,895 25.6
2007‑08 286,544 24.3   16,858 1.4   303,402 25.8
2008‑09 278,981 22.2   19,528 1.6   298,508 23.7
2009‑10 268,512 20.7   23,875 1.8   292,387 22.5
2010‑11 289,247 20.5   19,957 1.4   309,204 21.9
2011‑12 317,023 21.3   20,301 1.4   337,324 22.6
2012‑13 337,823 22.2   21,673 1.4   359,496 23.6
2013‑14 352,884 22.3   21,267 1.3   374,151 23.6
2014‑15 357,176 22.2   23,570 1.5   380,746 23.7
2015‑16(e) 375,923 22.8   25,030 1.5   400,953 24.3
2016‑17(e) 397,541 23.0   25,659 1.5   423,200 24.5
2017‑18(p) 422,522 23.3   30,059 1.7   452,581 24.9
2018-19(p) 450,802 23.6   36,291 1.9   487,094 25.5

(a) Data have been revised in the 2015‑16 MYEFO to improve accuracy and comparability through time.

(b) Visa application charges have been reclassified from non‑taxation revenue to taxation revenue to reflect a sustained change in the nature of revenue. This reclassification is reflected from 2015‑16 MYEFO and back-casting occurs from 2003‑04.

(e) Estimates.

(p) Projections.

Table D9: 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 cash 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 14,809
2006‑07 272,637 253,321 17,190   16,882 18,641 -1,759   285,336 267,778 17,566
2007‑08 294,917 271,843 19,754   7,758 8,232 -473   300,503 277,903 22,651
2008‑09 292,600 316,046 -27,013   7,987 8,960 -973   297,421 321,841 -24,352
2009‑10 284,662 336,900 -54,494   8,419 9,341 -922   290,681 343,841 -52,904
2010‑11 302,024 346,102 -47,463   8,558 9,733 -1,175   308,258 353,511 -44,970
2011‑12 329,874 371,032 -43,360   8,845 10,847 -2,002   336,122 379,282 -42,779
2012‑13 351,052 367,204 -18,834   9,766 14,135 -4,369   358,088 378,609 -20,521
2013‑14 360,322 406,430 -48,456   11,042 16,322 -5,280   368,521 419,910 -51,388
2014‑15 378,301 412,079 -37,867   11,256 15,544 -4,288   386,643 424,709 -38,067
2015‑16(e) 394,891 428,335 -37,399   11,993 19,868 -7,876   404,433 445,753 -41,320
2016‑17(e) 415,327 445,277 -33,667   na na na   na na na
2017‑18(p) 440,883 459,897 -23,021   na na na   na na na
2018-19(p) 473,531 483,295 -14,229   na na na   na na na

(a) Data have been revised in the 2015‑16 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 D10: 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
2000‑01 186,106 180,090 6,007   25,869 24,762 -826   207,367 200,246 5,181
2001‑02 190,432 192,984 -2,935   26,638 25,341 793   212,462 213,718 -2,142
2002‑03 206,778 201,113 5,377   24,339 22,916 1,975   225,989 218,944 7,311
2003‑04 222,042 215,235 6,148   25,449 23,444 2,143   241,746 232,934 8,291
2004‑05 242,354 229,092 12,228   26,965 25,191 1,473   263,434 248,398 13,700
2005‑06 260,569 241,665 16,406   28,143 29,531 -2,442   281,927 264,410 13,964
2006‑07 277,895 258,761 16,801   15,443 16,360 -1,763   289,551 271,335 15,038
2007‑08 303,402 279,862 20,948   6,854 6,686 -584   308,888 285,179 20,364
2008‑09 298,508 324,188 -29,743   6,998 7,576 -1,495   303,309 329,566 -31,238
2009‑10 292,387 339,829 -53,875   7,288 7,297 -1,079   298,033 345,483 -54,954
2010‑11 309,204 355,667 -51,760   7,563 7,787 -1,446   315,001 361,689 -53,205
2011‑12 337,324 377,220 -44,746   8,046 8,238 -2,158   343,722 383,810 -46,904
2012‑13 359,496 381,980 -23,472   8,863 9,415 -4,189   366,642 389,678 -27,661
2013‑14 374,151 414,047 -43,746   9,537 11,127 -6,070   381,971 423,457 -49,816
2014‑15 380,746 417,898 -39,857   9,987 11,850 -4,856   389,011 428,025 -44,713
2015‑16(e) 400,953 432,234 -35,765   9,967 12,562 -7,111   409,720 443,596 -42,875
2016‑17(e) 423,200 451,206 -32,751   na na na   na na na
2017‑18(p) 452,581 465,892 -17,415   na na na   na na na
2018-19(p) 487,094 491,370 -10,209   na na na   na na na

(a) Data have been revised in the 2015‑16 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.