Territory Stories

Annual Report 2004/2005 Northern Territory Treasury (includes Community Benefit Committee)

Details:

Title

Annual Report 2004/2005 Northern Territory Treasury (includes Community Benefit Committee)

Other title

Tabled paper 256

Collection

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

Date

2005-10-19

Description

Deemed

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/10070/282646

Citation address

https://hdl.handle.net/10070/412889

Page content

Overview 15 2004-05 Treasurers Annual Financial Report Table 7: Purchases of Non Financial Assets - Non Financial Public Sector 2003-04 Outcome 2004-05 Budget 2004-05 Estimate 2004-05 Outcome Variation on Budget Purchases of Non Financial Assets ($M) 303 307 367 360 53 Capital Grants ($M) 56 43 60 55 12 Total ($M) 359 350 427 415 65 Actual capital investment has increased by $56 million since 2003-04 and $65 million from the 2004-05 Budget. This increased expenditure predominantly relates to improved housing infrastructure. Competitive Tax Environment Target: Ensure Territory Taxes and Charges are Competitive with the Average of the States The Government is committed to maintaining taxation at competitive levels to encourage increased levels of business activity in the Territory. Comparisons of relative tax competitiveness are complex due to inherent diff erences in respective economies and in taxation regimes. In assessing the competitiveness of the Territorys tax system, the following measures are utilised: Taxation revenue per capita; and Taxation eff ort as assessed by the Commonwealth Grants Commission (the Commission). Taxation revenue per capita is a simple summary measure that aff ords comparability with other jurisdictions. Table 8 shows that the Territorys tax collections at $1494 per capita is the second lowest after Tasmania and signifi cantly below that of the average of the states at $2058 per capita. Table 8: Taxation Revenue Per Capita - General Government 2003-04 Outcome 2004-05 Budget 2004-05 Estimate 2004-05 Outcome1 Variation on Budget New South Wales 2 237 2 264 2 263 2 263 - 1 Victoria 2 050 2 070 2 066 2 078 8 Queensland 1 737 1 772 1 760 1 760 - 12 Western Australia 2 096 2 067 2 061 2 153 86 South Australia 1 834 1 896 1 893 1 893 - 3 Tasmania 1 314 1 411 1 409 1 419 8 Australian Capital Territory 2 332 2 271 2 265 2 265 - 6 State Average 2 027 2 051 2 060 2 058 7 Northern Territory 1 326 1 484 1 461 1 494 10 1ABS Catalogue 3101.0 (Mar 2005) released Sep 2005 Source: ABS Catalogue 5501.0, State Budget Papers, Northern Territory Treasury, Government Financial Results Report (Western Australia), Government Financial Results Report (Victoria) While taxation per capita is a useful comparative measure, it is limited in that it does not make any allowances for the diff erences in states capacities to raise revenue.


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