Territory Stories

February 2008 report to the Legislative Assembly

Details:

Title

February 2008 report to the Legislative Assembly

Collection

Report to the Legislative Assembly; Reports; PublicationNT

Date

2008

Description

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

Notes

Date:2008-02

Language

English

Subject

Northern Territory. Auditor-General's Office -- Periodicals; Finance, Public -- Northern Territory -- Accounting -- Periodicals; Northern Territory -- Appropriations and expenditures -- Periodicals

Publisher name

Northern Territory Auditor-General's Office

Place of publication

Darwin

ISSN

1323-7128

Copyright owner

Check within Publication or with content Publisher.

Parent handle

https://hdl.handle.net/10070/223559

Citation address

https://hdl.handle.net/10070/686148

Page content

Auditor-General for the Northern Territory February 2008 Report 21 Analysis of the Treasurers Annual Financial Statement cont Principal What Is Required? Extent To Which Target Achieved Competitive tax environment Ensure Territory taxes and charges are competitive with the average of the States. Based upon the average tax effort of all jurisdictions and taking into account levies and charges that are imposed in other jurisdictions, but not in the Territory, the total tax effort by the Territory is comparable with the average of all other jurisdictions. Prudent management of liabilities Net Debt and employee liabilities as proportion of total revenue to fall, with the target being 110 per cent by 2010-11. The ratio for 2006-07 was 106 per cent at 30 June 2007. This ratio may exhibit some growth in the short to medium term as superannuation liabilities continue to increase and as borrowings to finance the Power and Water Corporation capital program are undertaken. However the forecast decline in superannuation liabilities after 2016-17 should see the published target achieved.