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

307 Revenue Royalties, Rents and Dividends 2011-12 Estimate 2012-13 Budget Variation $000 $000 $000 GENERAL GOVERNMENT 180 230 163 954 - 16 276 Central Holding Authority 180 230 163 954 - 16 276 Mining and petroleum royalties 141 327 117 732 - 23 595 Land Rents 5 895 6 022 127 Mining and petroleum rents 1 600 1 600 Wildlife royalties 21 21 Dividends from: Northern Territory Treasury Corporation 22 170 26 198 4 028 NT Fleet 5 463 5 383 - 80 Land Development Corporation 1 494 4 862 3 368 Data Centre Services 1 712 1 497 - 215 Darwin Bus Service 189 164 - 25 NT Home Ownership 149 285 136 Construction Division 106 136 30 Government Printing Office 104 54 - 50 TOTAL 180 230 163 954 - 16 276 Royalties, Rents and Dividends Revenue from royalties, rents and dividends is expected to decrease by $16.3million in 2012-13. Mining and petroleum royalties, the most significant in this category, are expected to decrease by $23.6million in 2012-13. The revised estimate of $117.7million reflects advice from mining companies regarding lower profits-based royalties due to the value of the Australian dollar and lower commodity prices. Land rents relate primarily to payments made under certain landholding arrangements, for example, pastoral lease rents and mining lease rents, and are expected to remain consistent in both years. Dividends represent a portion of profits from the government owned corporation and government business divisions and represent a return on the Governments investment in these businesses. The Power and Water Corporation (PWC) was granted a dividend moratorium in 2007-08 which continues until PWCs financial performance improves. Dividends received from other government business divisions are expected to increase by $7.2million in 2012-13 to $38.6million, largely due to Northern Territory Treasury Corporation profitability as a result of increased borrowings and Land Development Corporations profitability as a result of increased residential and industrial land development.


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