Territory Stories

2018-2019 Treasurer's Annual Financial Report

Details:

Title

2018-2019 Treasurer's Annual Financial Report

Other title

Tabled paper 1407

Collection

Tabled papers for 13th Assembly 2016 - 2020; Tabled papers; ParliamentNT

Date

2019-10-16

Description

Tabled by Nicole Manison

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

Publisher name

Department of the Legislative Assembly

Place of publication

Darwin

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00042

Parent handle

https://hdl.handle.net/10070/754983

Citation address

https://hdl.handle.net/10070/773091

Page content

Notes to the financial statements 53 Notes to the financial statements For the year ended 30 June 2019 2. Taxation revenue General government Total public sector 2018-19 2017-18 2018-19 2017-18 $000 $000 $000 $000 Taxes on employers payroll and labour force taxes 280 357 359 704 269 634 348 470 Stamp duties on financial and capital transactions 169 211 74 013 169 211 74 013 Taxes on gambling 86 401 82 695 86 401 82 695 Taxes on insurance 49 741 45 644 49 741 45 644 Motor vehicle registration fees 74 419 74 235 74 419 74 235 Other 2 289 763 2 289 763 Total taxation revenue 662 417 637 054 651 694 625 820 Revenue is recognised at the fair value of the consideration received, exclusive of the amount of GST. Territory taxation is recognised when the underlying transaction or event that gives rise to the right to collect revenue occurs and can be measured reliably. Government-assessed revenues are recognised at the time the assessments are issued. An example of an assessment-based tax is conveyance duty. Taxpayer-assessed revenues, for example payroll tax, are recognised when a taxpayers self assessment is received. Additional revenues are recognised for assessments subsequently issued following review of returns lodged by taxpayers. 3. Current grants revenue General government Total public sector 2018-19 2017-18 2018-19 2017-18 $000 $000 $000 $000 GST revenue 2 741 825 2 944 959 2 741 825 2 944 959 Specific purpose payments 399 697 390 697 399 697 390 697 National partnerships 365 692 142 661 365 692 142 661 Other 452 260 729 387 452 200 729 387 Total current grants revenue 3 959 474 4 207 704 3 959 415 4 207 704 4. Capital grants revenue General government Total public sector 2018-19 2017-18 2018-19 2017-18 $000 $000 $000 $000 National partnerships 239 332 73 375 239 332 73 375 Specific purpose payments 17 500 17 500 Other 24 657 24 362 33 202 36 749 Total capital grants revenue 263 990 115 237 272 534 127 624 Grants revenue is recognised at fair value exclusive of the amount of GST when government obtains control over the assets comprising the contributions, generally on receipt. Where the grant is reciprocal in nature, revenue is recognised as and when the obligation is fulfilled.


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