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 mineral royalties). Commonwealth revenue represent 70% of total revenue to the Territory. Detailed discussion is provided on both in BP2 Budget Strategy and Outlook. See chapters 2, 5 and 6.
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. It includes a discussion on changes to consumer behaviour in Australia that have affected how much GST is collected, and therefore how much is distributed to the Territory. 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
|GST revenue||2 896||3 159||3 127||3 207||3 302|
|Current grants||1 441||1 458||1 075||1 004||962|
|Sales of goods and services||1 144||1 106||1 154||1 198||1 235|
|Dividend and income tax equivalent income||33||41||41||38||33|
|Mining royalties income||378||344||337||323||331|
|Total revenue||6 914||7 396||6 943||7 005||6 888|
|Year-on-year percentage change (%)||n/a||7||- 6.1||0.9||- 1.7|