Territory Stories

Pre-election Fiscal Outlook Report

Details:

Title

Pre-election Fiscal Outlook Report

Collection

Department of Treasury and Finance reports; Reports; PublicationNT

Date

2008-08

Description

Made available via the Publications (Legal Deposit) Act 2004 (NT).

Language

English

Subject

Northern Territory. Dept. of the Treasury -- Periodicals; Finance, Public -- Northern Territory -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Department of Treasury and Finance

Place of publication

Darwin

ISSN

2204-5791

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/299500

Citation address

https://hdl.handle.net/10070/383691

Page content

Fiscal and Economic Outlook 8 capacity for the EBA outcomes had been included in the contingency arrangements and will remain there until negotiations are finalised. Once agreements are finalised, a decision is required by Government regarding the release of funding to relevant agencies. Basis of Forward Estimates The 2008-09 Budget Paper No. 2 outlines in some detail how agency forward estimates are developed and presented in the 2008-09 Budget. This has not been changed for the PEFO. General Government Operating and Cash Flow Statements Revenue/Receipts Table 2.3 outlines the components of revenue and receipts included in the PEFO, with the following discussion comparing the current estimates to those presented in the 2008-09 Budget Papers. Table 2.3: General Government Sector Operating Revenue and Receipts 2007-08 2008-09 2009-10 2010-11 2011-12 Unaudited Budget Forward Estimates $M $M $M $M Revenue Taxation revenue 393 397 402 421 440 Current grants 2 773 2 882 3 019 3 126 3 283 Capital grants 230 166 239 256 233 Sales of goods and services 160 131 136 137 139 Interest income 61 45 46 46 46 Dividend and income tax equivalent income 59 47 34 29 40 Mining royalties income 94 93 97 97 97 Other 44 31 30 30 30 Total Revenue 3 814 3 793 4 003 4 142 4 308 Year on year percentage increase (%) - 1 6 3 4 Receipts Taxes received 395 397 402 421 440 Receipts from sales of goods and services 170 132 137 138 140 Grants and subsidies received 2 973 3 078 3 258 3 382 3 516 Interest receipts 59 45 46 46 46 Dividends and income tax equivalents 54 59 32 32 31 Mining royalties received 94 93 97 97 97 Other receipts 26 23 21 21 21 Sales of non financial assets 57 72 62 64 68 Total Receipts 3 827 3 900 4 055 4 202 4 360 Year on year percentage increase (%) 2 4 4 4 Source: Northern Territory Treasury. Revenue has increased by $136.5 million in 2007-08, largely the result of increased GST revenue ($32.8 million) and increased SPP funding ($71.3 million). Although the GST revenue increase has affected the forward estimates, the other revenue components remain largely unchanged from those projected in the 2008-09 Budget Papers. As a result, revenue is currently estimated to decline slightly in 2008-09 from the outcome in 2007-08. This would be expected to be revised as new SPP and National Partnership


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