Territory Stories

Budget 2012-2013 Budget Paper No.3 The Budget

Details:

Title

Budget 2012-2013 Budget Paper No.3 The Budget

Other title

Tabled paper 1785

Collection

Tabled papers for 11th Assembly 2008 - 2012; Tabled papers; ParliamentNT

Date

2012-05-01

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/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/277295

Citation address

https://hdl.handle.net/10070/424028

Page content

281 Revenue Taxation Revenue 2011-12 Estimate 2012-13 Budget Variation $000 $000 $000 GENERAL GOVERNMENT 482 619 510 138 27 519 Central Holding Authority 480 405 507 924 27 519 Payroll tax 241 699 252 937 11 238 Stamp duty 139 169 149 793 10 624 Lotteries, gaming and wagering tax 48 324 49 532 1 208 Light vehicle registration 13 163 13 880 717 Heavy vehicle registration 16 466 16 960 494 Income tax equivalents1 Northern Territory Treasury Corporation 9 501 11 228 1 727 Data Centre Services 1 468 1 283 - 185 Government Printing Office 89 47 - 42 NT Fleet 4 682 4 613 - 69 Territory Insurance Office 3 720 3 720 NT Home Ownership 128 244 116 Land Development Corporation 1 281 2 968 1 687 Darwin Bus Service 162 140 - 22 Construction Division 91 117 26 Local Government rates equivalents (Darwin Port Corporation and Power and Water Corporation) 462 462 Department of Justice 2 214 2 214 Community benefit levy 2 214 2 214 TOTAL 482 619 510 138 27 519 1 Government trading entities not shown are not expected to have a tax liability in 2011-12 and 2012-13. Taxation Revenue Taxation revenue consists of compulsory levies imposed by Government to raise revenue used to provide public services to the Territory community. Taxation revenue does not relate to a payment for goods and services provided. Taxation revenue includes revenue raised from Northern Territory Government levies and does not include Commonwealth taxes. The only significant taxation revenue related policy variation since the May 2011 Budget is the Territory Governments decision to defer the abolition of stamp duty on non-land business property (previously scheduled for 1July 2012) until the Territory Budget situation permits the cost of abolition. More detail on this decision is included in BudgetPaperNo.2. Total taxation revenue collections are forecast to increase by $27.5million, or around 5.7percent, in 2012-13. Payroll tax is the most significant component in the taxation revenue category. The forecast for 2012-13 comprises: $176.8million from private sector businesses and the public financial and nonfinancial corporation sectors; and $76.1million from general government agencies and business divisions.


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