Where does the Territory Government’s revenue come from
The two main sources of revenue for the Territory Government are Commonwealth revenue (GST, untied and tied grants) and own-source revenue (mainly taxes and royalties). Commonwealth revenue represents 68% of total revenue to the Territory. Detailed discussion is provided in BP2 Budget Strategy and Outlook on both. See chapters 2, 5 and 6.
BP2 Budget Strategy and Outlook
BP2 Chapter 2: Fiscal outlook outlines components of the Territory’s revenue sources and how much the government expects to raise during the budget and forward estimates period (Table 2.6 Non financial public sector – revenue).
Further details of the Territory’s revenue sources can be found in chapters 5: Intergovernmental financial relations issues and 6: Territory taxes and royalties. Chapter 5 provides details on Commonwealth revenue to the Territory in the form of GST revenue and other tied Commonwealth payments. Chapter 6 outlines the Territory’s own-source revenue from taxes and royalties, and incorporates estimates, forecasts, new initiatives and a comparison of the Territory’s taxation revenue with other jurisdictions.
BP2, Table 2.6: Non financial public sector – revenue
| 2022-23 | 2023-24 | 2024-25 | 2025-26 | 2026-27 | |
|---|---|---|---|---|---|
| Revised | Budget | Forward estimate | |||
| $M | $M | $M | $M | $M | |
| Revenue | |||||
| Taxation revenue | 674 | 673 | 685 | 690 | 720 |
| GST revenue | 3 977 | 3 804 | 4 020 | 4 195 | 4 373 |
| Current grants | 1 339 | 1 319 | 1 076 | 1 015 | 979 |
| Capital grants | 543 | 503 | 624 | 397 | 287 |
| Sales of goods and services | 1 156 | 1 243 | 1 340 | 1 369 | 1 407 |
| Interest income | 134 | 119 | 122 | 125 | 128 |
| Dividend and income tax equivalent income | 53 | 54 | 48 | 51 | 52 |
| Mining royalties | 367 | 400 | 316 | 273 | 286 |
| Other revenue | 87 | 83 | 96 | 94 | 95 |
| Total revenue | 8 330 | 8 198 | 8 327 | 8 209 | 8 327 |