Territory Stories

Budget Paper No.2 Fiscal and Economic Outlook 2008-2009

Details:

Title

Budget Paper No.2 Fiscal and Economic Outlook 2008-2009

Other title

Tabled paper 1293

Collection

Tabled papers for 10th Assembly 2005 - 2008; Tabled papers; ParliamentNT

Date

2008-05-06

Description

Tabled By Delia Lawrie

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Series/C1968A00063

Parent handle

https://hdl.handle.net/10070/283912

Citation address

https://hdl.handle.net/10070/410393

Page content

2008-09 Budget 16 Fiscal Position and Outlook The following section outlines the growth in the forward estimates for components of the Operating Statement and Cash Flow Statement. Operating Revenue and Receipts Table 2.5 provides a breakdown of operating revenue and receipts for 2008-09 to 2011-12. 2008-09 2009-10 2010-11 2011-12 Budget Forward Estimates $M $M $M $M Revenue Taxation revenue 400 408 426 446 Current grants 2 870 2 957 3 046 3 177 Capital grants 166 239 256 233 Sales of goods and services 131 136 137 139 Interest income 45 46 46 46 Dividend and income tax equivalent income 47 34 29 40 Mining royalties income 88 92 92 92 Other 31 30 30 30 Total Revenue 3 778 3 942 4 062 4 203 Year on year percentage increase (%) 3 4 3 3 Receipts Taxes received 400 408 426 446 Receipts from sales of goods and services 132 137 138 140 Grants and subsidies received 3 036 3 196 3 302 3 410 Interest receipts 45 46 46 46 Dividends and income tax equivalents 59 32 32 31 Mining royalties received 88 92 92 92 Other receipts 23 21 21 21 Sales of non financial assets 72 62 64 68 Total Receipts 3 855 3 994 4 121 4 254 Year on year percentage increase (%) 5 4 3 3 Source: Northern Territory Treasury Total operating revenue and total receipts are projected to grow at an average of 3.5 per cent over the forward estimates period, with revenue from the Commonwealth growing at an average of 4 per cent and the Territorys own-source revenue increasing at around 2.25 per cent. Taxation revenue is the most significant component of the Territorys own-source revenue and is expected to grow by an average of 3.9 per cent over the forward estimates period. This growth is the result of continued increases in economic activity and population growth, offset by the Governments commitment to payroll tax and stamp duty reductions and reforms. Further information on the Territory Governments tax reform initiatives can be found in Chapters 4 and 6 of this Budget Paper. General Government Sector Operating and Cash Flow Forward Estimates Table 2.5: Operating Revenue and Receipts General Government


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